There is certainly a connection between Euler's formula and the matrix exponential, but I think you have confused some details about how e^x is defined. The connection is to consider C as a 2-dimensional real vector space with basis 1,i. Multiplication by i is a linear transformation of this vector space. In more detail:
The exponential of a matrix X is an infinite sum just like that of the normal exponential function except with operations being matrix multiplication, addition, and scalar multiplication (I is the identity matrix):
e^X = I + X + X^2/2 +X^3/6 +...
Now take X to be the matrix
X = [0 -1; 1 0].
This is the matrix of the linear transformation of corresponding to multiplication by i if you consider C as a real vector space with basis 1,i (thus x+iy is identified with the vector [x; y]).
Now you can compute that the matrix exponential
e^(tX)
is the rotation matrix
[cos(t) -sin(t); sin(t) cos(t)].
The connection is now this: we can describe multiplication of a complex number z = x+iy by e^(ti) equivalently as the vector resulting from the linear transformation
[cos(t) -sin(t); sin(t) cos(t)]*[x;y] = [x*cos(t) - y* sin(t); x*sin(t) + y*cos(t)]
In particular, if you take z = 1 you recover Euler's formula.
To say briefly how this is a special case of the exponential map in Lie theory: the 1-d vector space spanned by X is the Lie algebra of the unit circle (which is a group) and the exponential map sends an element tX to e^(tX).