The Alibaba IPO shares have been priced at $68, but BABA shares started to trade at 36% higher at NYSE.
Chinese Alibaba sold shares worth of about $22 billion today. The shares of the Alibaba IPO have been priced at $68, but shot up to $92.70 at the beginning of trading at the NYSE
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Alibaba is trading today under the symbol BABA on the New York Stock Exchange. Alibaba has raised the share price target recently due to demand and as expected picked the top range that has been in play so far. With 36% above the IPO pricing the IPO is a major success.
Jack Ma built an extremely impressive online imperium that handles more transaction than Amazon and eBay combined.
The Alibaba market value at this initial share price is is right now about $228 billion. This means Alibaba is already up there with the big tech companies like Apple, Google and Microsoft. Alibaba already overtook Amazon, Facebook and IBM in Market value. Now the question is how the stock is performing over the long run.
Alibaba's founder and executive chairman, Jack Ma, aims to keep full control of Alibaba even after the IPO. Which I think is a good thing. He was able to make e-commerce work in China in a way Silicon Valley did not figure out. There is though one Silicon Valley company that will profit big time from the Alibaba IPO. Yahoo! is a major shareholder of Alibaba. The only question is if he will be able to take on other markets in the same scale as in China.
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Alibaba Group was founded in 1999 by 18 people led by Jack Ma, a former English teacher from Hangzhou, China. It began as an online wholesale marketplace for small Chinese exporters and entrepreneurs to reach global buyers. The principal executive offices of our principal operations are located in the Xixi District of Hangzhou, China. As of March 31, 2014, we employed more than 22,000 people around the world. SoftBank Corp. and Yahoo! Inc. and their respective affiliates are major shareholders. SoftBank Corp. has been our shareholder since 2000 and Yahoo! Inc. since 2005.