Magento Highlights Stunning Growth in Q3 Report
One of the famous e-commerce platform Magento outdone itself in Q3 of 2010, posting spectacular results, highlighted in their quarterly “Magento Momentum Report.”
Even if revenue went up 350% till 2009, the most interesting detail which can be found in the report does not involve any dollar signs.
Velocity of Adoption:
Revenue for Q3 2010 was up more than 350 percent from a year ago, driven by rapid worldwide adoption of Magento’s powerful Enterprise Edition.
Magento Enterprise Edition is being selected by the full continuum of eCommerce companies, from start-ups and venture-backed innovators, to mainstream brands and now some of the world’s largest retailers. Customers include Oneida, Nafnaf, HoMedics, Giro, Lenovo, Flor, Toms Shoes, GoNabit, and Levi Strauss. More brand examples can be found here.
According to Google Trends, the term “Magento” is now Googled more than the word “eCommerce.”
Magento is adding more than 100 new enterprise-class customers each month.
Talent at Magento has grown from 90 to more than 200 people over the course of 2010 with a focus on technology, support and channel. In Q3 2010, Magento also hired two new senior executives – Jary Carter, vice president, sales of North America and Michel Goossens, vice president and general manager of EMEA to help spearhead international expansion.
As a testimony to its worldwide strength and adoption, Magento received hosting company Rackspace top partner awards for the second year in a row.
Driving Innovation and Ecosystem Growth:
In Q3 2010, the Magento Mobile mCommerce platform for the iPhone was released, allowing retailers and developers to quickly and easily create highly customized, native-branded iPhone app storefronts, bringing the functionality of Magento’s eCommerce platform to mobile devices.
The Magento Connect marketplace, powered by Magento’s innovative community, now boasts more than 3,000 extensions and applications built by third-party developers as add-ons to the Magento eCommerce platform. New extensions create greater flexibility and innovation for merchants and are being developed at a rate of 100 to 150 per month. These include applications for payment, social shopping, shipping, deal of the day, theme and more.
Magento released the Professional Edition of its platform in Q3 2010 to facilitate the aspirational needs of smaller merchants.
Magento’s worldwide solutions partners are showing similar growth rates and success driven by the tremendous demand of merchants seeking Magento customization and integration for their eCommerce platform.
Magento recently announced The Imagine Ecommerce Conference, its first worldwide conference set for Feb. 7th-9th, 2011 in Los Angeles, Calif.
“Magento’s mission is to enable the worldwide eCommerce ecosystem. We measure everything we do against creating success for the world of eCommerce,” stated Roy Rubin, CEO of Magento. “We are committed to our rapid growth and to keep pace with demand and innovation. In the last year alone, Magento has tripled our revenues, increased employee headcount from 90 to over 200 and continues to outpace our rivals more than 10-to-1 in sales. We are expanding, hiring new talent and further developing platforms and apps for our developers, retailers, entrepreneurs, and merchants to grow their online businesses.”
“As a multi-brand, international holding company, with brands including The Sharper Image and Black and Decker, HoMedics has unique requirements for our online presence,” said Phil Jacokes, manager, interactive eCommerce team at HoMedics. “We chose Magento Enterprise so that we can manage all of our sites from one installation and take advantage of the great marketing and merchandising capabilities. The flexibility and power of Magento Enterprise is exactly what’s necessary to support our eCommerce growth.”
Magento solution partners have also seen similar growth and success. “For any serious eCommerce project, Magento is the smart choice; for many of our clients Magento is the only choice,” said Greg Segall, president of One Pica, a Magento solution partner. “We often need to implement a great deal of customization to satisfy a divergent set of requirements. No other platform delivers such a high level of inherent functionality along with a great deal of flexibility.”