Alibaba filed paperwork late Tuesday for a $1 billion public offering
The value of the IPO is seen as a placeholder to calculate registrations fees. The actual amount raised in the IPO is reportedly expected to be closer to the $15 billion to $20 billion range, making it the largest tech IPO since Facebook, if not ever.
Alibaba was founded in 1999 by an eccentric former English teacher named Jack Ma and has since become China's largest ecommerce company. It mainly consists two big shopping websites: Taobao, which launched in 2003 to compete with eBay in China, and Taobao Mall (or Tmall), an online shopping marketplace. Read more...
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