VC-backed Shopgate buys MagCorp

Shopgate said Monday that it has acquired MagCorp, a Magento developer. No financial terms were disclosed. Shopgate’s backers include Creathor Venture Management and Northcap.

PRESS RELEASE

February 10, 2014 – Palo Alto, US & Butzbach, Germany – Shopgate (www.shopgate.com) have announced the acquisition of Magento developer powerhouse MagCorp in an effort to build upon their integrations with the well-known shopping cart by bringing in some of it’s biggest experts.

MagCorp is made up of four accomplished Magento developers at the top of their game. Alexander Wesselburg, André Kraus, Stephan Recknagel and Peter Liebig join an already 132 strong team at the stunning Shopgate Campus in Butzbach, Germany.

In the not too distant past they worked on Glossybox, an international startup from Berlin. They developed their e-commerce system from scratch. They implemented an automated recurring payment system in Magento which was able to handle several €10K payments like a charm. They soon moved on to several other start-up companies in Germany like online clothing retailer Luxodo who recently received $2.4M in Venture Round funding, German online car dealership giant Autoda, and online sporting goods retailer mysportgroup who recently raised €5 million in investment for growth in 2014 and are currently ranked as Germany’s 9th most popular employer, supplying the public with over 300 popular brands. At the end of last year, Shopgate sat up and took notice.

Shopgate are saying this is just the beginning and they plan to be on the lookout for more acquisitions as the company continues to grow. Shopgate have seen an exponential growth with more and more online merchants coming on board every single day in 2013, the time for growth is now.

About Shopgate:

Shopgate (www.shopgate.com) is an award-winning mobile commerce solution provider. Shopgate develops customized native apps and mobile sites for online shops. More than 5,200 merchants in five countries already use Shopgate, increasing their mobile revenues by up to 900%. Every day, over 500,000 orders are made through a shopping app or mobile website provided by Shopgate. Shopgate is shaping the future of mobile commerce and enables consumers to purchase their goods from wherever they are. Shopgate was founded in Butzbach, Germany and Palo Alto, CA by Andrea Anderheggen and Ortwin Kartmann and increased its staff by 50% in 2013 alone. The company is now powered by more than 130 mobile enthusiastic talents all over the world. Amongst others, Shopgate won the “Red Herring Global 100” award as one of the most promising and fastest growing IT-technologies in the world.

 

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