Alibaba raises $21.8-billion in record U.S. offering Alibaba Group Holding priced its initial public offering at $68 (U.S.) a share, the top end of the expected range, raising $21.8-billion on Thursday. At that price, the IPO, one of the largest-ever, would give Alibaba a market valuation of $167.6-billion. That will vault it above U.S. e-commerce rivals like Amazon and eBay and give it more financial firepower to expand in the Unites States and other markets. “I’d put them (Alibaba) in a class of Facebook and Google with the scale they have, growth prospects and profitability,” said Scot Wingo, CEO of e-commerce software provider ChannelAdvisor. “There’s a scarcity value there.” fw.to/EwDZ4IP
Posted on: Thu, 18 Sep 2014 23:33:04 +0000
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