Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Build Apps 5x Faster
For Half the Cost
Enterprise Cloud Computing

On Force.com
World Wide Web
24/7/365 Network Uptime!
Average Rating:
Rate this article:  
China
China's Alibaba Seeks Blockbuster IPO in U.S.

By Michael Liedtke
May 8, 2014 10:12AM

    Bookmark and Share
In a long-awaited move, China's leading e-commerce company Alibaba filed papers for an initial public offering of stock seeking to raise at least $1 billion. The documents set the stage for the technology industry's biggest IPO public offering since Twitter and its early investors collected $1.8 billion in Twitter's market debut last fall.
 



Alibaba Group, China's leading e-commerce company, is dangling a deal that could turn into one of the biggest IPOs in U.S. history.

In a long-awaited move made Tuesday, Alibaba filed papers for an initial public offering of stock seeking to raise at least $1 billion.

The documents set the stage for the technology industry's biggest IPO public offering since Twitter and its early investors collected $1.8 billion in the online short messaging service's market debut last fall.

Depending on investor demand for its stock, Alibaba could try to raise more money and even surpass the $16 billion that Facebook and its early investors raised in the social networking leader's IPO two years ago.

"This is going to be the granddaddy of all IPOs," predicted PrivCo CEO Sam Hamadeh, who has closely followed the market for years.

One of the reasons Alibaba may set a new IPO fundraising standard is because one of its major shareholders, Yahoo Inc., is supposed to sell about 208 million shares, too.

For now, Alibaba isn't specifying how much stock will be sold in the IPO, or setting a price range or saying which U.S. exchange its stock will trade on. Those details will emerge as the IPO progresses. The process is likely to take three to four months to complete before Alibaba's shares begin trading.

The rise of e-commerce in China has given millions of households wider access to clothes, books and consumer electronics in a society that in the 1980s still required ration tickets for some supermarket items. Shopping online has become even popular as smartphones gave more Chinese consumers easy access to a computer and Alibaba's launch of an online payment system, Alipay, which filled the gap for the shoppers who lacked credit cards.

Still growing at an explosive rate, online shopping is forecast by consulting firm McKinsey to triple from 2011 levels to $400 billion a year by 2015.

Although it's not well-known in the United States, Alibaba is an e-commerce powerhouse that makes more money than Amazon.com Inc. and eBay Inc. combined. What's more, the company is still growing at a rapid clip as its network of online services, including Taobao, Tmall and Alipay, mine a Chinese Internet market that already has 618 million Web surfers, roughly twice the size of the U.S. population.

Taobao is an online shopping bazaar similar to eBay while Tmall serves as an online outlet for major brands sold by major retailers. Alipay is an electronic payment service similar to eBay's PayPal. (continued...)

1  |  2  |  3  |  Next Page >

 


© 2014 Associated Press under contract with NewsEdge. All rights reserved.
 

Tell Us What You Think
Comment:

Name:



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 World Wide Web
1.   NY Proposes Virtual Currency Rules
2.   Visa Intros Online Payment Service
3.   E-Commerce Warehouse Demand Up
4.   Google's Delivers Mixed Bag in 2Q
5.   Netflix Nixes Saturday DVD Shipments


advertisement
Radical.FM's Freemium Biz Model
Online radio startup asks for donations.
Average Rating:
Facebook Social Experiment Irks Us
Secretive test was legal, but ethical?
Average Rating:
NY Proposes Virtual Currency Rules
But are separate regulations warranted?
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Juniper DDoS Solution Aims at High-IQ Networks
In the face of more complex attacks, Juniper Networks is boosting its DDoS Secure solution to help companies mitigate the threats with more effective security intelligence throughout the network fabric.
 
Large-Volume DDoS Attacks Hit Record in 2014
The number of distributed denial-of-service (DDoS) attacks set a record in the first half of 2014, according to a report by Arbor Networks. The number of attacks over 20 GB/sec doubled.
 
U.N.: Nations Hide Rise in Private Digital Snooping
Governments on every continent are hiding an increasing reliance on private companies to snoop on citizens' digital lives, the U.N. human rights office says, with grave concerns about privacy.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.