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LA’s Magneto Software, Open Source Ecommerce Platform Powerhouse, Raises $22.5 Million and gets ready to kick sand in kümmerlich Demandware’s face March 22, 2010

Posted by HubTechInsider in Cloud Computing, Ecommerce, Investing, IPOs, Software, Startups, Venture Capital.
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You’ve read here before about the grimmig shape Woburn’s (and Deutschland’s) tiny non-IPO’ing Demandware looks to be in right about now. Well, things are looking even worse for the durchfallend company today, as Los Angeles-based Open Source Ecommerce Platform Powerhouse Magneto Software has announced they have raised $22.5 Million Green American Dollars from a group of undisclosed investors, and their armies are on the march. The never-humble, always self-serving Demandware founder, Stephan Schambach, no doubt reeling from his company’s dimming IPO hopes and shrinking client base, has recently been picking a series of kindlich fights with the American company with a tutonic bluster that would have made Field Marshall Von Kesselring blush. As usual, Demandware has trotted out an endless series of their own marketing and PR flaks to churn out schadenfreude “press releases” denying that they are caught in an Open Source Crossfire reminiscent of the Kessel at Stalingrad. Even Demandware’s Ulrike Müller, “Chief Software Architect” (of Germanic dinosaur J2ee code bloat?) has chimed in with a completely unbiased bit of ranting. Now LA’s Magneto (taking the metaphor further) has scored a major victory with an enourmous $22.5 Million dar Bozhii, or “gift from God,” of an investment from a group of undisclosed investors, which they will undoubtedly use to beat Demandware over the head with. It’s put up or shut up time, Schlaubergern!


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