Magento is an open-source ecommerce web application launched on March 31, 2008. It was created by Varien, building on components of the Zend Framework Varien, the company that owns Magento, formerly worked with osCommerce. They originally planned to fork osCommerce but later decided to rewrite it as Magento. Magento officially started development in early 2007 Seven months later on August 31, 2007, the first public beta version was released.