Magento is a popular ecommerce platform that was recently purchased by Xcommerce. It offers merchants flexibility and control over their online stores while providing necessary backend functionality. Key features include integrated AJAX technology, real-time shipping rates, search engine optimization tools, and customizable user access privileges. Magento allows for segmentation of customers, integration with analytics tools, and responsive store templates that adapt to mobile devices. It also provides support for various product types including configurable, grouped, custom option, and bundled products.