Magento is a PHP-based open-source e-commerce platform. It also makes use of other PHP frameworks like Laminas and Symfony. The Open Software License (OSL) v3.0 governs the distribution of Magento source code. Adobe Inc bought Magento for $1.68 billion in May 2018.
The programme was created with the help of volunteers and open source software contributors by Varien Inc., a US private company based in Culver City, California.
On the platform, over 100,000 online stores have been launched. The platform code has been downloaded over 2.5 million times, and Magento-based systems sold $155 billion worth of items in 2019.  Magento has a 2.32 percent market share in worldwide e-commerce systems as of April 2021.