Newsletters
Customer Relationship Management News NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home CRM Systems Customer Service Contact Centers Business Intelligence More Topics...
UCS Invicta: Integrated Flash
Deploy flash memory technology to
deliver peak workload performance.

Find out more>>
World Wide Web
Next Generation Data Center Is Here!
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:



Get Powerful App Acceleration with Cisco. In a world where time is money, you need to accelerate the speed at which data moves through your data center. Cisco UCS Invicta delivers powerful, easy-to-manage application acceleration for data-intensive workloads. So you can make decisions faster and outpace the competition. Learn More.


 World Wide Web
1.   Facebook Outage Puts Users in Tizzy
2.   Twitter Buys Password Manager Mitro
3.   Gov't User Data Requests Skyrocket
4.   Internet.org App to Debut in Zambia
5.   HealthCare.gov's Rollout Probed


advertisement
OkCupid Experiments with Daters
Unethical without user consent?
Average Rating:
Radical.FM's Freemium Biz Model
Online radio startup asks for donations.
Average Rating:
Twitter Buys Password Manager Mitro
Startup to release code as open source.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Ruling Against Microsoft Raises E-Mail Privacy Concern
Microsoft has been ordered to hand over e-mails to law enforcers in the United States as part of a criminal investigation, even though the e-mail is stored at a data center in Dublin,Ireland.
 
Twitter Buys Password Manager Startup Mitro
Following on the heels of another acquisition earlier this week, Twitter is adding to its fold a password-manager security startup called Mitro, which in turn is releasing its code as open source.
 
Government Requests for Customer Data Skyrocket
Requests for customer data from the government jumped 50 percent in the first half of 2014, according to Twitter, which received more than 2,000 requests for user info from gov't agencies.
 

Navigation
CRM Daily
Home/Top News | CRM Systems | Customer Service | Contact Centers | Business Intelligence | Sales & Marketing | Customer Data | CRM 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.