Alibaba, supposed to be the biggest online marketplace, has filed IPO on Tuesday. It is said the initial public offering of Alibaba is the biggest in the history of United States. Though, the China based company has not decided which exchange it will use for shares yet New York stock exchange and Nasdaq are struggling for the plum assignment.
Alibaba is considered to be a sort of amalgamation of Google, Amazon and EBay. This company has a good relationship with the U.S investors. Presently, Yahoo owns 22.6% stake in Alibaba and supposed to drive good profit after the completion of IPO process.
It goes without saying that Alibaba is one of the biggest online market places. There are more than 80 million products listed on the website. It is said that the gross profit of the company is about $1.4 billion last year. A senior official of the company said that “we had more than 11 billion orders last year and we have more than 231 million active buyers”.
Last but not the least Alibaba was founded by Jack Ma in 1999. The executive chairman of the company Ma said that before starting Alibaba, I was turned down for a number of jobs. Today, the company owner plays with billions of dollars via his E-commerce platform.