Alibaba IPO Reportedly As Big As Google’s

Nov 6, 2007 at 9:16am ET by Greg Sterling

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.

Greg Sterling is a Contributing Editor at Search Engine Land, and writes a personal blog Screenwerk, examining the broader world of media and advertising. He also posts at a Local Mobile Search, which is focused on the mobile Internet.

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