I am excited to share the news of our launch as an independent company, backed by the Permira funds.

Today, we become Magento Commerce: a new company that combines our flagship Magento platform with innovative mobile and omnichannel products, focused on driving innovation in every facet of commerce.

This is a day that supporters of Magento have long awaited. And it is a day our competitors have long feared!

We stand at the forefront of a tremendous market opportunity. As part of eBay, Inc. we transformed from a small startup into a formidable company. We grew revenue five-fold, made significant investments in our core platform, and added innovative mobile and omnichannel products. Today, we emerge with the resources and established product set of a market leader, yet with the drive, independence, and innovation of a startup.

We welcome the Permira funds, our new owners and financial sponsors, as true partners. The team at Permira brings decades of experience backing some of the world’s leading brands and retailers, including Hugo Boss, Valentino and Dr Martens, as well as market leading technology companies such as Informatica, Genesys, NDS and TeamViewer. They understand the true potential of Magento, because they know first-hand the importance of merchants owning the customer experience, embracing the power of an open architecture, and achieving superior ROI from their omnichannel investments.

We thank John Donahoe, Bob Swan, and all our friends and colleagues at eBay Inc. and eBay Enterprise. As part of eBay, we doubled down on quality and implemented enterprise-grade processes to ensure a higher rate of customer satisfaction and success with our platform, our developer community, and our strategic partners. Pierre Omidyar founded eBay with the vision of “connecting the world through commerce,” and in this vision we found inspiration and a shared purpose for the new Magento Commerce that begins today. We commit to eBay that we will take these values with us, and will continue to make the world a better place by connecting people through commerce.

We also thank our customers, partners, and loyal community members who have made this journey with us every step of the way. They never stopped believing in the power of an open platform, supported by a global network of innovators, to fundamentally change the dynamics of an industry, and to transform the world.

From this day forward, our competition will no longer be able to hide from the power of the Magento platform. We now have a strong, independent voice. We will unleash the full power of the Magento brand. We will flex the full power of our global ecosystem to accelerate our leadership position as the world’s leading commerce platform.

Today the values that are uniquely Magento are needed more than ever. Higher customer expectations, faster technology cycles, increased need for competitive differentiation–these realities will create winners and losers over the next decade. Our commitment to an open, omnichannel platform that can be flexibly extended and scaled in public and private cloud environments is attracting the CIOs within the new generation of commerce leaders. CMOs are benefiting from the agility and constant innovation delivered by Magento and our unique ability to leverage cutting-edge capabilities from the world’s largest global network of partners and developers. Together, we ensure that retailers, brands, and manufactures running on Magento technologies will continue to lead their industries through this revolution.

And finally, I want to thank all of our employees who have come together to make the new Magento Commerce a reality. Your trust, patience, focus and unwavering passion have inspired me over these many months.

Now is our moment to shine!

Today we dedicate ourselves to a new mission. We are taking the best of what made Magento great from the start, and building on it to reach new heights.

Today, on behalf of all of you, and on behalf of all the entrepreneurs, the creative thinkers, the change agents across our global ecosystem who thrive on the promise of what is possible, I could not be more proud to declare:

We Are Magento!

Mark Lavelle, CEO, Magento Commerce.