By Derek Hunter
Friday, September 19 stood to be the day when the biggest
IPO in history went off, but this mega-tech company does not hail from Silicon
Valley, and you probably have never used it. Alibaba is a Chinese E-bay-like
service where small businesses and individuals can use its platform to buy and
sell goods and services. Alibaba is breaking all the rules for its debut: as a
tech company, it is listing on the NYSE, instead of the Nasdaq; it is allowing
retail investors to buy shares on the first day (unlike Facebook or Twitter on
their first day); and it is a Chinese company that eschewed Shanghai or Hong
Kong for its opening.
Fortune
Magazine provides a good overview of this historic IPO, which is
projected to value Alibaba at $168 billion (with a “b”).
0 comments:
Post a Comment