Magento is an open-source e-commerce platform written in PHP. The software was originally developed by Varien Inc., a US private company headquartered in Culver City, California, with assistance from volunteers. Varien published the first general-availability release of the software on March 31, 2008. Roy Rubin, former CEO of Varien, later sold a substantial share of the company to eBay, which eventually completely acquired and then spun off the company. According to the research conducted by AheadWorks in May 2015, Magentos market share among the 30 most popular e-commerce platforms is about 29.8%.