Quantcast

eBay to Acquire Open Source E-Commerce Platform Magento

eBay ups minority to stake to entire company

Get the WebProNews Newsletter:


eBay to Acquire Open Source E-Commerce Platform Magento
[ Business]

eBay announced it has agreed to acquire open source e-commerce platform Magento, which the company has had a minority stake in since 2010. eBay will own the entire thing once the transaction closes (the terms of which have not been disclosed).

eBay CEO John Donahoe uploaded the following message to developers:

Magento will join eBay’s integrated open source platform group X.Commerce, which eBay says is focused on leveraging the company’s assets and partner technologies to build a strong developer community as a resource for merchants.

Today X.com truly becomes X.Commerce with Payments, Commerce, Auctions, and more … exciting day for #Commerce developers ! 2 minutes ago via TweetDeck · powered by @socialditto

eBay promises more details about its plans at the X.Commerce Innovate conference in October.

eBay to Acquire Open Source E-Commerce Platform Magento
Top Rated White Papers and Resources
  • Philip Cohen

    eBay, Magento, AliExpress, Skype, PayPal, Google, Schmoogle, whatever

    The rusting old hulk eBay is presently being kept afloat by PreyPal so it’s good to see these boys recently squabbling and threats to the clunky PreyPal now coming thick and fast. It’s interesting times for all we eBay “haters” (oops, I mean “watchers”). I just hope that someone has remembered to bring the popcorn.

    PayPal is mostly registered in various places not as a “bank” but only as a “money transmitter” (like Western Union), and PayPal actually claims that they are not a “payment processor”, and there is a minute degree of truth in that claim because it could, nonsensically, be claimed that they do no more than facilitate the transmission of money by riding on the back of the banks’ existing payments processing systems.

    In fact, the only thing creative about PayPal has been their use of users’ email addresses as an identifier for online transactions. PayPal is otherwise no more than a blood-sucking parasite on, and in the main cannot function except via, the banks’ existing payments system (via their banker, GE Money Bank—Ugh!).

    PayPal, outside of whatever will ultimately be left of the Donahoe-devastated eBay Marketplace, will undoubtedly eventually be consigned to the history books by all the retail banks/Visa/Mastercard once those players get their “online” act together.

    Some people may not like “the banks” but all those participating retail banks at least supply a professionally run payments processing system—unlike PayPal’s—and even PayPal concurs with that assessment: except for intra PayPal “account” transactions, they use the banks’ payments processing system all the time and simply could not exist without it.

    Regardless, all the above comments apply equally to all of the other third-party “payments processors” that are emerging out of the woodwork and wanting to have access to your banking account. Unless they a formal arrangement with all the participating retail banks, as do the likes of Visa/MasterCard, then the result is invariably going to be as potentially problematic as presently is PayPal’s clunky operation for its merchants, and many of them can tell you a sorry tale or two.

    All anyone needs to know about the clunky PayPal can be found at:
    http://forums.auctionbytes.com/vbulletin/showthread.php?p=165263

    Is that PayPal’s blood in the water, and are those “sharks” (oops, “banks”) I can see circling?

    Enron / eBay / PayPal / Donahoe: Dead Men Walking.

  • http://www.naturalyeasttreatment.com natural yeast treatment

    i really like the video very interesting..

  • http://www.alliedblacktopmn.com/ Parking lot repair

    Aw, this was a really nice post. In idea I want to put in writing like this additionally – taking time and actual effort to make a very good article… but what can I say… I procrastinate a lot and not at all seem to get something done.

  • http://asdfasdf.com Carter Varin

    Good web site! I really love how it is easy on my eyes and the data are well written. I’m wondering how I might be notified whenever a new post has been made. I have subscribed to your feed which must do the trick! Have a nice day!

  • Join for Access to Our Exclusive Web Tools
  • Sidebar Top
  • Sidebar Middle
  • Sign Up For The Free Newsletter
  • Sidebar Bottom