Magento officially started development in early 2007. Seven months later, on August 31, 2007, the first public beta version was released.Varien, the company owning Magento, formerly worked with osCommerce. It had originally planned to fork osCommerce but later decided to rewrite it as Magento.In February 2011, eBay announced it had made an investment in Magento in 2010, worth a 49% ownership share of the company. On June 6, 2011, eBay announced that it would be acquiring the rest of Magento, which would join its new X.Commerce initiative. Magento’s CEO and co-founder Roy Rubin wrote on the Magento blog that “Magento will continue to operate out of Los Angeles, with Yoav Kutner and me as its leaders.Yoav Kutner left Magento in April 2012 citing the vision for Magento having changed since the time of acquisition due to high level staff changes.
As a result of the breakup of eBay following Carl Icahn’s raid, Magento was spun out as an independent company by the new owner Permira private equity fund on 3 November 2015.
Magento Commerce (On-Premises)
Magento Commerce (On-Premises), previously “Magento Enterprise Edition” is derived from Magento Open Source and has the same core files. Unlike Open Source, this is not free, but has more features and functionality. This product is designed for large businesses that require technical support with installation, usage, configuration, and troubleshooting. Although Magento Commerce has annual maintenance fees, neither Open Source nor Commerce (On-Premises) include hosting. The Magento team develops Magento Commerce by cooperating with users and third parties. Development on the 2.X branch of Magento Commerce is coordinated publicly on GitHub
Magento Open Source
Magento Open Source, previously Magento Community Edition, is an open-source eCommerce platform. Developers can implement the core files and extend its functionality by adding new plug-in modules provided by other developers. Since the first public beta version was released in 2007, Magento Open Source has been developed and customized in order to provide a basic eCommerce platform.The current release and each of the previous historical release versions of the 1.X and 2.X version branches of Magento Open Source are available on the Magento Commerce, Inc. website for download as single-file downloads Development of the 2.X version branch of Magento CE is coordinated publicly on GitHub.The latest actively supported versions of Magento Open Source are CE 1.9.3 and 2.2.0