Magento is an open-source e-commerce platform written in PHP. The software was originally developed
by Varien, Inc, a US private company headquartered in Culver City, California, with assistance from volunteers.
Varien published the first general-availability release of the software on March 31, 2008. Roy Rubin, the former CEO of Varien, later sold a substantial share of the company to eBay, which eventually completely acquired and then sold the company to Permira; Permira later sold it to Adobe.
On November 17, 2015, Magento 2.0 was released. Among the features changed in V2 are the following: reduced table locking issues, improved page caching, enterprise-grade scalability, inbuilt rich snippets for structured data, new file structure with easier customization, CSS Preprocessing using LESS & CSS URL resolver, improved performance and a more structured code base.