Alibaba (BABA) IPO Shares Jump 36%

Posted: Sep 19 2014, 1:15pm CDT | by , in News | Latest Business News


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Clone of Alibaba (BABA) IPO Shares Jump 36%
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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

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.

About Alibaba
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.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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