Magento Now Officially a Part of eBay's X.commerce Portfolio

eBay completed its previously announced acquisition of Magento Inc. The company adds a major component to eBay's portfolio by offering merchants a popular open-source ecommerce platform with a vibrant developer community. eBay's payment unit PayPal has also moved to an open-source model that has helped it capitalize on innovative ecommerce solutions launched by third-party vendors. Magento also offers a web-hosted storefront solution for smaller online retailers called Magento Go that competes with eBay's ProStores, with plans starting at $15/month. eBay had acquired a minority stake in Magento in 2010, it revealed at this year's Analyst Day in February. eBay