E-commerce giant Alibaba files for massive IPO

Posted by: Jennifer Cefai (3 years, 4 months ago)

Chinese e-commerce giant Alibana has announced its intentions to go public in the U.S. in what looks to be the largest U.S. IPO to date. While official figures have not been announced, it has been reported that the company is planning to sell a 12 percent stake for a figure somewhere between $15 and $20 billion. Given Alibaba pulled in $5.6 billion in revenue and 1.4 billion in profit last year, this is not a very far-fetched idea. 

Bearing this in mind, Alibaba's IPO could surpass current frontrunners Visa, who went public at $18 billion in 2008. The IPO would also give the company a $168 billion market cap, making it smaller than Apple and Google but larger than Facebook, Amazon, and eBay. Yahoo's involvement will be something to watch - the U.S. company owns 24 percent of Alibaba, and may be forced to sell half of that owing the the IPO. China is still relatively new ground to tread, but has a lot of promise - and Alibaba could be a massive step forward. 

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