Alibaba

From the New York Times:

The Alibaba Group, the Chinese Internet juggernaut, raised nearly $21.8 billion in its initial stock sale on Thursday, as investors flocked to buy a piece of the company that is poised to continue dominating China’s burgeoning e-commerce industry.

The company priced its shares at $68 each, at the top end of an already raised range. At that level, the online market operator will have a market value of about $168 billion — much more than eBay,Twitter and LinkedIn combined.

A coming of age for the Chinese Internet. Along with Tencent, Baidu and a host of other successful companies, we will have a globally competitive marketplace for goods and services – all thanks to the Information Age we now live in.

Leave a reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s