There’s no stopping the growth of Magento Commerce this year, thanks to the Chinese investor who expressed optimism about the company’s future.
One of Asia’s largest investment firms, Hillhouse Capital, has invested a whopping $250 million in Magento for its global expansion specifically in Asia.
In its official press release, Magento said it’s going to use the money to fund its worldwide expansion of sales, marketing and client support, new product innovation, as well as future acquisitions.
According to Magento CEO Mark Lavelle:
“In addition to the capital that will accelerate our growth, this investment brings the experience and long-term perspective of another marquee investor.”
Aside from Hillhouse, Magento has an existing partnership with Permira Funds, the European equity firm that helped turn it into a powerful eCommerce company following its split from eBay back in 2015.
Magento Keeps an Eye on its Goal
New investments like this can only take Magento closer to its goal of becoming the leading company for the next generation of commerce innovators.
More than 250,000 businesses worldwide are using the Magento platform; the majority of which prefer the Community Edition.
Aside from its user-friendly interface and customisable features, Magento’s mobile responsiveness is the reason it continues to be most retailers’ choice of eCommerce platform.
In spite of this, Mark and his team are constantly on the lookout for ways to meet their clients’ expectations, especially with regard to digitising customer experience across multiple channels.
Aware of the high demand for digital commerce technology among online retailers—and the scarcity of companies capable of providing it—Mark is confident that Magento, with the support of Hillhouse and Permira, could deliver the perfect solution.
We know that you are just as excited as we are about the new developments in the Magento lab following their partnership with Hillhouse.
What are your thoughts on this? Let us know in the comments box.
Here’s to your continued success,
Dave & Matt