Finalyze Club, IMI, New Delhi
About Alibaba Group
Alibaba Group Holding Limited is a Hangzhou-based group of Internet-based ecommerce businesses, including business-to-business online web portals, online retail and payment services, a shopping search engine and data-centric cloud computing services. The group began in 1999 when Jack Ma founded the website Alibaba.com, a business-to-business portal to connect Chinese manufacturers with overseas buyers. In 2012, two of Alibaba’s portals handled 1.1 trillion yuan ($170 billion) in sales. The company primarily operates in the People’s Republic of China (PRC), and at closing time, on the date of its historic initial public offering (IPO), 19 September 2014, Alibaba's market value was measured as US$231 billion.
Run up to the Alibaba IPO
In September 2013, the company sought an IPO in the United States after a deal could not be reached with Hong Kong regulators. Planning occurred over 12 months before the company's market debut in September 2014. The Alibaba ticker symbol is "BABA.N", while the pricing of the IPO initially raised US$21.8 billion, which later increased to US$25 billion, making it the largest IPO in history.
Alibaba's consumer-to-consumer portal Taobao, similar to eBay, features nearly a billion products and is one of the 20 most-visited websites globally. The Group's websites accounted for over 60% of the parcels delivered in China by March 2013, and 80% of the nation's online sales by September 2014. Alipay, an online payment escrow service, accounts for roughly half of all online payment transactions within China.
The Alibaba IPO
On 5 September 2014, the group—in a regulatory filing with the U.S. Securities and Exchange Commission—set a US$60- to $66- per-share price range for its scheduled initial public offering (IPO), the final price of which would be determined after an international roadshow. The listing on the New York Stock...
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