Alibaba Instantly Becomes New Power Kid on the IT Block
eWeek, September 19, 2014
Alibaba, the huge e-commerce merchant that sounds Middle Eastern but actually is headquartered in China, made financial history Sept. 19 with its record IPO on the New York Stock Exchange.
The $21.8 billion that the e-commerce giant garnered on its first day as a public company easily eclipsed the previous record, $19.7 billion raked in by Visa International, when it went public in 2008. In comparison, Facebook made $16 billion on its IPO in 2012, and Google’s 2004 offering earned a relatively modest $1.7 billion.
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