Friday November 27, 2020

Alibaba files for IPO that could be largest ever in US

Alibaba Group filed yesterday for what could become the largest US initial public offering ever.

7th May, 2014
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Alibaba Group, which rode China’s emergence as an economic superpower over the last 15 years to become a massive online marketplace for everything from forks to forklifts, filed yesterday for what could become the largest US initial public offering ever.

The IPO will be a boon for Yahoo, which plans to sell part of its 22.6 per cent stake in Alibaba.

Founded by former English teacher Jack Ma, 49, in a Hangzhou apartment, Alibaba started...

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