We built Baqend around the caching algorithms that we developed at the university. Our goal was to make the performance optimizations applicable to as many contexts a possible. We went for the "serverless" pardigm and backend-as-a-service to accelerate any application (website or app) that uses our APIs and hosting.
Currently most of our customers are e-commerce, web and app agencies, startups and software companies that look for web performance in combination with scalability.
We're currently getting lots of request from e-commerce, so we are building out our support for shop features (e.g. advanced search, payment, content management). We are developing a Magento plugin to make the transition to our platform and its performance benefits as easy as possible.