Open Market

Source: Wikipedia, the free encyclopedia.
Open Market
Founded1994 (1994)
FoundersDavid B. Gifford and Shikhar Ghosh
Defunct2003
FateBankruptcy
HeadquartersBurlington, Massachusetts
Key people
  • Shikhar Ghosh, Chairman
  • Gary B. Eichhorn, CEO
[1]

Open Market was an

ecommerce IPOs.[2] The stock more than doubled on its first day of trading, ending with a $1.2 billion market capitalization.[3] It relocated to Burlington, Massachusetts
in early 1998.

In 1999, Open Market acquired Future Tense, founded in 1995, to combine its ecommerce software with Future Tense's content management system.[4]

Open Market was later acquired by

Divine in 2001 for about $59 million.[5] Divine later filed for bankruptcy in early 2003. In the same year, Soverain Software acquired Open Market's ecommerce assets, including the TRANSACT product.[6] FatWire Software acquired Open Market's content management business from the Divine bankruptcy. FatWire has extended the Open Market software and currently services Open Market's original content management customer base.[7]

FatWire was acquired in 2011 by Oracle,[8] and OpenMarket's content Management is now branded as Oracle WebCenter Sites.

Products and technology

Open Market developed a number of software products, including:

  • Open Market Web Server: One of the first commercially available Web (HTTP) servers, and the first commercial product with a highly scalable threading architecture. The Secure Web Server variant added support for
    SSL
    .
  • Transact: Open Market's eCommerce product. Notable for the use of cryptography to support digital offers and digital receipts with useful properties for eCommerce applications
  • OM Express: An early offline web browser
  • OM Axcess: A centralized access management tool for websites
  • OM e-Business Suite: The WCM Software acquired from FutureTense and greatly extended

Open Market also invented FastCGI, a high-performance variant of the CGI interface. FastCGI was first implemented in Open Market's Web server products,[9] but versions have since been developed for many other Web servers.

OpenMarket also owned patents for the shopping cart filed in 1994,[10] session identifiers filed in 1998,[11] and credit card payments over the internet filed in 1998.[12]

References

  1. ^ Judge, Paul C. (May 31, 1998). "E Commerce: They've Got The Patents But So What?". Bloomberg. Retrieved June 29, 2016.
  2. ^ C. Judge, Paul (November 1, 1999). "Where Is It Now? Open Market's Fall". Business Week. Archived from the original on March 4, 2000. Retrieved 28 January 2013.
  3. ^ Bussgang, Jeff (April 13, 2011). "What if it's 1996, not 1999?". VentureBeat. Retrieved June 29, 2016.
  4. ^ Clark, Tim. "Open Market acquires Future Tense". CNET. Retrieved 28 January 2013.
  5. ^ Cooper, Charles. "Perspective: Perspective: A Divine e-commerce "cashectomy"". CNET. Retrieved 28 January 2013.
  6. ^ "Souverain – About Us". Souverain. Archived from the original on April 18, 2013. Retrieved 28 January 2013.
  7. ^ "Ecommerce Outsourcing". Retrieved 15 September 2015.
  8. ^ "Oracle Buys Fatwire, Can Now Offer a Complete Customer Experience Management Solution". CMSWire.com. Retrieved 2020-01-20.
  9. ^ "FastCGI: A High-Performance Web Server Interface". Open Market, Inc. Retrieved 28 January 2013.
  10. ^ "US Patents office, number 5,715,314".
  11. ^ "US Patents office, number 5,708,780".
  12. ^ "US Patents office, number 5,724,424".
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