Managed Hosting News 
Monday, 14th March 2011, 15:49:04
eBay invests in ecommerce specialist
eBay has been revealed as the unnamed investor that bought a 49 per cent take in shopping engine specialist Magento.
According to the Register, the online auction house invested $22.5 million in the company, details that have only just been revealed by chief technology officer Mark Carges.
A spokesperson for eBay's ecommerce subsidiary PayPal, which provides the site's online payments infrastructure, said that they will be working in partnership with Magento.
It is expected that the investment will allow PayPal to integrate its payment system with the shopping cart facility of Magento, which is targeted at small and medium-sized ecommerce businesses.
The representative said: "It's more integration of the shopping cart and payment technology - it lets you do more integrated stuff."
In 2010, eBay posted an annual revenue of $9.156 billion, making it one of the world's most successful ecommerce sites.
PayPal became its wholly-owned subsidiary in 2002 as the result of a $1.5 billion acquisition.
Posted by Phil Williams
Count on Hostway to help you deliver a secure, around-the-clock online shopping experience to your customers
Categories: | Ecommerce |
Related Headlines:
10-03-2011: Ecommerce website popularity causing pre-Christmas spending rise
08-03-2011: Ecommerce boost for Expedia as Middle East set for online holiday bookings surge
07-03-2011: Plumbword unveils new ecommerce site to help sell products
03-03-2011: Wal-Mart and Suning target ecommerce success in China
01-03-2011: Ecommerce figures rose 18 per cent across Europe in 2010, new research shows
Previous Headlines:
14-03-2011: Firms urged caution over generic top-level domains
14-03-2011: Virtualisation a 'panacea' for IT industry
11-03-2011: VMware View launched on iPad
10-03-2011: Dot TV domain name auction takes place as popularity rises
10-03-2011: Ecommerce website popularity causing pre-Christmas spending rise
Meet the News Team...
CALL: 0808 180 1880
or just email our Sales Team if you have any questions about any of Hostway’s services.
News Categories:
Read the latest headlines from these selected categories...
News Archives:
Previous headlines...
* All prices exclude VAT where applicable. All plans, packages and offers are subject to terms and conditions of sale available on the site.
© Hostway Corporation. All rights reserved.
A global web hosting leader, Hostway has strategic locations in the United States and Europe, including the Netherlands, Belgium, France, Romania and Germany, as well as Korea, India, and Australia.
