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.