Alibaba IPO Reportedly As Big As Google’s
The New York Times and the Wall Street Journal both report on the IPO and first day of trading for Alibaba.com. The offering was the biggest IPO by any Chinese company and raised an estimated $2 billion. The market capitalization of the company is now nearly $26 billion. Yahoo owns 39 percent of Alibaba Group, the parent of Alibaba.com, and previously said it would buy 10 percent of the available shares. Some analysts believe the stock is overvalued and unsustainable. But that’s what many analysts also said about Google in its early days of trading.
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