Magento Revenue and Growth Statistics (2023)
.png?width=50&name=Frame%201%20(6).png)
By
Some Amazing Facts About Magento
- Adobe acquired Magento in 2018, and it is currently valued at $1.7 billion.
- Magento is the leading e-commerce platform in the EMEA region.
- Europe and the Americas account for 90% of the top 10 e-stores powered by Magento.
- Magento holds the third position among the most popular e-commerce platforms.
- Approximately 0.7% of global sites utilize Magento.
- Over 20% of Magento stores rank within the top 1000 e-commerce stores.
- Prominent companies such as Ford Motor, Coca-Cola, and Liverpool FC rely on Magento.
- The majority of Magento stores offer a product range of 1 - 9 items.
- Magento provides its customers with a wide selection of over 3,700 extensions.
- The .com domain is the most commonly used domain among Magento stores worldwide.
Magento Overview
| Key Stat | Magento |
|---|---|
| Founders | Roy Rubin and Yoav Kutner (Varien) |
| Founded | 2008 |
| Owner | Adobe |
| CEO | Mark Lavelle |
| Headquarters | San Jose, California, United States |
| Industry | E-commerce |
| Service Area | Worldwide |
| Website | business.adobe.com/products/magento |
| Active Stores | 150,000+ stores (2023) |
| Employees | 590 |
| Supported Platforms | Websites, social media, mobile apps |
How Many Businesses Use Magento?
From 2019 to 2022, the number of active stores on the Magento platform steadily increased, reaching a peak of 163,714 in 2022. As of 2023, there are currently 151,455 live stores on Magento.
| Year | Active Magento Stores |
|---|---|
| 2023 | 151,455 active stores |
| 2022 | 163,714 active stores |
| 2021 | 161,970 active stores |
| 2020 | 143,343 active stores |
| 2019 | 125,730 active stores |
Source: Storeleads
Popular Business/Brands Powered by Magento
Popular business/brands powered by Magento include Ford Motor Company, Coca-Cola Company, Olympus Corporation, ASUS, HP Inc., Bulgari, Christian Louboutin, Oliver Sweeney, Kurt Geiger, and Liverpool FC, with valuations ranging from $1.3 billion to $257.5 billion.
| Company | Valuation |
|---|---|
| Ford Motor Company | $42.2 billion |
| Coca-Cola Company | $257.5 billion |
| Olympus Corporation | $30.5 billion |
| ASUS | $15.7 billion |
| HP Inc. | $38.3 billion |
| Bulgari | $16.3 billion |
| Christian Louboutin | $3.4 billion |
| Oliver Sweeney | $150 million |
| Kurt Geiger | $100 million |
| Liverpool FC | $1.3 billion |
Number Of Products Sold by Magento Stores
Most Magento stores sell a small number of products, with 18.3% selling 1-9 products and 18.4% selling 250-999 products. The number of stores selling larger quantities gradually decreases.
| Products Sold | Magento Stores |
|---|---|
| 1 - 9 | 27,733 stores |
| 10 - 24 | 7,398 stores |
| 25 - 49 | 9,712 stores |
| 50 - 99 | 3,765 stores |
| 100 - 249 | 18,849 stores |
| 250 - 999 | 27,808 stores |
| 1000 - 4999 | 16,993 stores |
| 5000 - 9999 | 5,092 stores |
| 10000 - 24999 | 4,592 stores |
| 25000 - 99999 | 2,232 stores |
Source: Storeleads
Magento startup value in the E-commerce space
Magento, an e-commerce software startup, was acquired by Adobe for a value of $1.7 billion. This acquisition is notable among other significant e-commerce startup acquisitions, such as the purchase of Flipkart by Walmart for $16 billion and the acquisition of Wolt by DoorDash for $8.1 billion. The acquisition of Magento showcases its value and importance in the e-commerce space.
| E-commerce Software Startup | Acquisition value |
|---|---|
| Flipkart (Walmart) | $16 billion |
| Wolt (DoorDash) | $8.1 billion |
| Ancestry (Blackstone Group) | $4.7 billion |
| Birkenstock Group (L Catterton) | $4.5 billion |
| Jet (Walmart) | $3 billion |
| Postmates (Uber) | $2.7 billion |
| Mobike (Meituan-Dianping) | $2.7 billion |
| Magento (Adobe) | $1.7 billion |
| Depop (Etsy) | $1.6 billion |
| Gorillas (Getir) | $1.2 billion |
Source: Statista
Magento Funding, Investors and Acquisition
In 2018, Adobe acquired Magento Commerce for a price of $1.7 billion. This acquisition was announced on May 21, 2018.
| Company | Announced Date | Price | Transaction Name |
|---|---|---|---|
| Magento Commerce | May 21, 2018 | $1.7B | Magento Commerce acquired by Adobe |
Magento Funding Rounds
Magento has raised $272.5M in funding over 3 rounds, with their latest round being a $250M Private Equity round on Jan 4, 2017. Previous funding rounds include a $22.5M Venture round on Mar 15, 2010.
| Announced Date | Transaction Name | Investors | Money Raised | Lead Investors |
|---|---|---|---|---|
| Jan 4, 2017 | Private Equity Round - Magento Commerce | 1 | $250M | Hillhouse Capital Group |
| Dec 1, 2014 | Private Equity Round - Magento Commerce | 1 | — | Banneker Partners |
| Mar 15, 2010 | Venture Round - Magento Commerce | 1 | $22.5M | eBay |
Source: Crunchbase
Magento Investors
Magento is funded by 3 investors, with Hillhouse Capital Group and Banneker Partners being the most recent. Private equity investments in Magento Commerce were led by Hillhouse Capital Group and Banneker Partners.
| Investor Name | Lead Investor | Funding Round |
|---|---|---|
| Hillhouse Capital Group | Yes | Private Equity Round - Magento Commerce |
| Banneker Partners | Yes | Private Equity Round - Magento Commerce |
| eBay | Yes | Venture Round - Magento Commerce |
Source: Crunchbase
Magento Acquisitions
Magento has acquired two organizations, Easy Social Shop and RJMetrics, with the most recent acquisition being Easy Social Shop on April 18, 2017.
| Acquiree Name | Announced Date | Transaction Name |
|---|---|---|
| Easy Social Shop | Apr 18, 2017 | Easy Social Shop acquired by Magento Commerce |
| RJMetrics | Aug 1, 2016 | RJMetrics acquired by Magento Commerce |
Source: Crunchbase
Magento Global Presence
What country uses Magento the most?
The United States has the highest number of Magento stores, followed by the United Kingdom, Germany, and the Netherlands. Other countries such as Italy, Brazil, Spain, Australia, and France also have a significant presence of Magento stores.
| Country | Magento Stores |
|---|---|
| United States | 21,130 stores |
| United Kingdom | 10,215 stores |
| Germany | 9,195 stores |
| Netherlands | 8,172 stores |
| Italy | 4,944 stores |
| Brazil | 4,837 stores |
| Spain | 4,315 stores |
| Australia | 4,080 stores |
| France | 3,980 stores |
Source: Storeleads
Magento in the EMEA region
In the EMEA region, Magento was the top e-commerce software in 2022, with a 33% adoption rate among large companies.
| E-commerce Software | Share of respondents |
|---|---|
| Magento | 33.00% |
| Salesforce Commerce Cloud | 18% |
| Shopify | 11.00% |
| WooCommerce | 9.00% |
| SAP Commerce Cloud | 9.00% |
| Optimizely | 5% |
| Prestashop | 5% |
| HCL Commerce | 3% |
| Other | 7% |
Source: Statista
Magento in the United States (US)
Among the top 500 online shops in the United States in 2020, Magento holds a 10% market share, placing it in the top 5 e-commerce software options.
| E-commerce Software | Share of online stores |
|---|---|
| Salesforce Commerce Cloud | 21.20% |
| Oracle Commerce | 20% |
| IBM Websphere Commerce | 15.80% |
| Magento | 10.00% |
| Shopify | 9.60% |
Source: Statista
Magento in the United Kingdom (UK)
In the UK, Magento is the leading e-commerce software, used by 25.20% of the top 500 online shops in 2020. Other popular options include Salesforce Commerce Cloud (18%), IBM Websphere Commerce (8.70%), Hybris (8.30%), and Shopify (4.90%).
| E-commerce Software | Share of online stores |
|---|---|
| Magento | 25.20% |
| Salesforce Commerce Cloud | 18% |
| IBM Websphere Commerce | 8.70% |
| Hybris | 8.30% |
| Shopify | 4.90% |
Source: Statista
Magento in Germany
Magento is the top shop software in German e-commerce with a 19.40% market share. Shopware has a 14.90% share, Salesforce Commerce Cloud holds 12%, and OXID EShop and SAP Commerce complete the top 5 with shares of 10.30% and 6.60%.
| E-commerce Software | Share of online stores |
|---|---|
| Magento | 19.40% |
| Shopware | 14.90% |
| Salesforce Commerce Cloud | 12% |
| OXID EShop | 10.30% |
| SAP Commerce | 6.60% |
Source: Statista
Magento in Italy
In a 2020 survey by Casaleggio Associati, 21% of Italian companies used Magento as their e-commerce software, making it a popular choice for online businesses in Italy. Magento was the second most used platform, after ad hoc platforms.
| E-commerce Software | Share of companies |
|---|---|
| Ad hoc platform | 31.00% |
| Magento | 21% |
| Prestashop | 12.00% |
| Woocommerce | 10.00% |
| Other | 8.00% |
| Shopify | 4% |
| Storeden | 4% |
| OpenCart | 2% |
| Salesforce | 2% |
| Drupal | 1.50% |
| Joomla | 1.50% |
| OsCommerce | 1.50% |
| Oracle | 1.50% |
Source: Statista
Top industry/niche using Magento
The top industries/niches using Magento are Home & Garden (10.7%), Apparel (8.8%), and Business & Industrial (5.1%).
| Industry | Magento Stores |
|---|---|
| Home & Garden | 16,133 stores |
| Apparel | 13,263 stores |
| Business & Industrial | 7,737 stores |
| Food & Drink | 5,447 stores |
| Computers | 5,357 stores |
| Gifts & Special Events | 4,989 stores |
| Beauty & Fitness | 4,649 stores |
| Autos & Vehicles | 4,540 stores |
| Health | 4,237 stores |
| Sports | 4,212 stores |
| Internet | 3,548 stores |
| Consumer Electronics | 2,327 stores |
| People & Society | 1,975 stores |
| Arts & Entertainment | 1,842 stores |
| Toys & Hobbies | 1,766 stores |
| Jobs & Education | 1,366 stores |
| Science | 1,314 stores |
| Pets & Animals | 1,022 stores |
| Books & Literature | 935 stores |
Source: Storeleads
Most used social media platforms by Magento stores
Facebook is the most popular social media platform among Magento stores, with 44.4% of stores utilizing it. Instagram comes in second place, with a usage rate of 35.1%, followed by Twitter at 17.6%.
| Social Media Platforms | Magento Stores |
|---|---|
| 67,176 stores | |
| 53,168 stores | |
| 26,636 stores | |
| 26,329 stores | |
| YouTube | 25,295 stores |
| 11,968 stores | |
| 5,543 stores | |
| Tiktok | 3,192 stores |
| Yelp | 2,572 stores |
| Facebook Group | 532 stores |
| Snapchat | 200 stores |
Source: Storeleads
Most Used Apps By Magento Stores
In the Magento App Store, there are 1,364 vendors offering 5,731 apps. The top three most installed apps are Improved Layered Navigation (10.3% of stores), AJAX Cart Pro (3.4% of stores), and Yotpo Reviews (1.4% of stores).
| Magento Store Apps | Magento Stores |
|---|---|
| Improved Layered Navigation | 15,601 stores |
| AJAX Cart Pro | 5,104 stores |
| Yotpo Reviews | 2,142 stores |
| Help Desk Ultimate | 1,040 stores |
| Store Switcher | 302 stores |
| Drip | 178 stores |
| Request For Quote | 79 stores |
| Subscribe Pro Connector | 70 stores |
| Carts Guru Shopping Cart Recovery | 57 stores |
| Carts Guru | 57 stores |
Source: Storeleads
Top Technologies Used Magento Stores
The top three third-party technologies on Magento stores are Google Tag Manager (50.5%), Google Adsense (48.1%), and Google Analytics (33.3%). Among the top 10 technologies, Google Tag Manager has the highest number of installs with 76,471 stores, followed by Google Adsense (72,856 stores) and Google Analytics (50,360 stores).
| Magento Store Technology | Magento Stores |
|---|---|
| Google Tag Manager | 76,471 stores |
| Google Adsense | 72,856 stores |
| Google Analytics | 50,360 stores |
| Facebook Pixel | 45,406 stores |
| Google Ads Pixel | 41,559 stores |
| Cloudflare CDN | 25,596 stores |
| reCAPTCHA | 23,968 stores |
| Cloudfront CDN | 23,325 stores |
| YouTube Player | 20,636 stores |
| New Relic | 19,142 stores |
Source: Storeleads
Top Shipping Carriers Used By Magento Stores
The top shipping carriers used by Magento stores are UPS (11.0%), FedEx (8.5%), and USPS (7.9%). Among all Magento stores, UPS has the most usage with 16,705 stores, followed by FedEx with 12,875 stores and USPS with 11,991 stores.
| Magento Shipping Carriers | Magento Stores |
|---|---|
| UPS | 16,705 stores |
| FedEx | 12,875 stores |
| USPS | 11,991 stores |
| Royal Mail | 3,212 stores |
| DHL | 1,250 stores |
| Australia Post | 1,170 stores |
| Correios | 779 stores |
| Canada Post | 590 stores |
| Correos | 528 stores |
| PostNord | 515 stores |
Source: Storeleads
Most Used Domain By Magento Stores
44.0% of Magento stores have a .com domain, making it the most popular top-level domain. .de and .co.uk domains follow with 5.3% and 4.5% of the stores, respectively.
| Magento Store Domain | Magento Stores |
|---|---|
| .com | 66,679 stores |
| .de | 8,035 stores |
| .co.uk | 6,825 stores |
| .nl | 6,425 stores |
| .com.br | 4,535 stores |
| .it | 3,756 stores |
| .net | 3,095 stores |
| .com.au | 2,854 stores |
| .fr | 2,693 stores |
| .ca | 1,890 stores |
Source: Storeleads
Who Founded Magento?
Magento was founded by Roy Rubin and Yoav Kutner in 2007. It is an open-source e-commerce platform that quickly became popular due to its flexibility and scalability. eBay acquired Magento in 2011, but it became an independent company again in 2015. Adobe acquired Magento in 2018, and it is now owned and operated by Adobe.
Who Owns Magento?
Magento is currently owned by Adobe. Adobe acquired Magento in 2018 for $1.7 billion.
Adobe is an American multinational software company that specializes in software for the creation and management of digital content, graphics, photography, video, printing, and the web.
Key people at Magento
| Name | Role |
|---|---|
| Mark Lavelle | CEO |
| Nathaniel Beeson | Vice President of Growth |
| Kristin Gray | Area Vice President Of Sales, Commerce & Growth |
Source: Craft.co
Magento’s Headquarters
| Country | City | Address |
|---|---|---|
| United States | San Jose | 345 Park Ave (HQ) |
Source: Craft.co
Frequently Asked Questions About Magento
What is Magento used for?
Magento is an open-source e-commerce platform for creating and managing online stores. It is flexible, scalable, and offers a wide range of features, including product catalog management, checkout, marketing, SEO, payment processing, and shipping. Magento supports selling physical goods, digital goods, and services, and is used by companies like Ford, Coca-Cola, and Liverpool FC.
Is Magento free to use?
Magento Open Source is a free version of Magento that is developed and maintained by a team of volunteers. It offers various features like product catalog management, checkout, marketing, SEO, payment processing, and shipping management. However, it lacks advanced features found in Magento Enterprise Edition, such as multi-store management, advanced reporting, and support for high-volume traffic.
| Feature | Magento Open Source | Magento Enterprise Edition |
|---|---|---|
| Price | Free | Paid |
| Features | Basic features for product catalog management, checkout, marketing, SEO, payment processing, and shipping management. | Advanced features for multi-store management, advanced reporting, and support for high-volume traffic. |
| Support | Community support | Paid support from Adobe |
Does Magento require coding?
Magento is a PHP framework, so it does require some knowledge of coding to use effectively. However, there are many resources available to help you learn Magento, and you can also hire a Magento developer to help you build and manage your store.
How much does Magento cost per month?
The cost of using Magento varies depending on your needs. Magento Open Source is free to download and use, but you will need to pay for hosting and other services. Magento Enterprise Edition is a paid subscription service that starts at $1,988 per month.
| Version | Cost |
|---|---|
| Magento Open Source | Free + hosting |
| Magento Enterprise | $1,988 per month |
| Magento Commerce Cloud | $2,800 per month |
Which is better Magento or WordPress?
Magento is an e-commerce platform with features for managing product catalogs, payments, and shipping. It is highly customizable.
WordPress is a versatile CMS for creating various types of websites, including blogs, portfolios, and e-commerce stores. It is user-friendly and has a wide range of plugins and themes available.
| Feature | Magento | WordPress |
|---|---|---|
| Focus | E-commerce | General-purpose |
| Ease of use | More difficult | Easier |
| Customizability | Highly customizable | Less customizable |
| Features | Wide range of e-commerce features | Plugin-based features |
| Cost | Free for Open Source edition, paid for Enterprise Edition | Free, but may need to pay for hosting, domain name, and plugins |
Is Magento good for beginners?
Magento is more complex compared to Shopify or WooCommerce. It has numerous features, making it challenging to master.
- A large community of users and developers with online resources to learn from.
- Many pre-made themes and extensions are available.
- Scalable for small businesses to grow with.
Which is better Shopify or Magento?
Shopify is a user-friendly, hosted platform that eliminates the need for hosting or server maintenance. It offers a drag-and-drop interface for creating professional stores without coding.
In contrast, Magento is self-hosted and requires purchasing hosting and handling server maintenance. It is more complex and requires technical knowledge for effective use.
| Feature | Shopify | Magento |
|---|---|---|
| Type | Hosted | Self-hosted |
| Ease of use | Easy | More difficult |
| Customizability | Less customizable | Highly customizable |
| Features | More limited features | More features, including advanced SEO and marketing tools |
| Cost | Paid subscription service | Free for Open Source edition, paid for Enterprise Edition |
How long does it take to build a website in Magento?
The time it takes to build a Magento website depends on factors such as complexity, required features, and developer experience. A simple website can be built in a few weeks, while a complex one may take several months. Here are estimated timeframes for different types of Magento websites:
- Simple: 2-4 weeks
- Medium-complexity: 4-8 weeks
- Complex: 8-12 weeks or more
