Magento is an open source ecommerce web application that was launched on March 31, 2008. It was developed by Varien (now Magento Inc) with help from the programmers within the open source community but is owned solely by Magento Inc.. Magento was built using the Zend Framework. It uses the Entity-attribute-value (EAV) database model to store data.
Magento promises to revolutionize the industry. Its modular architecture and unprecedented flexibility means your business is no longer constrained by your eCommerce platform.