Alibaba has filed for an IPO
Chinese e-commerce company Alibaba has officially filed for an IPO today. Alibaba could be one of the largest IPOs ever. Alibaba plans to raise $1 billion, but that amount could be higher. Analysts are expecting Alibaba’s IPO to surpass Facebook. Facebook raised $16.4 billion in 2012.
The registration statement was more than 2,300 pages long. The filing did not specify an offering price or what exchange the American Depositary Shares would be listed on, nor did it mention the stock symbol that Alibaba would trade under.
The filing did report that Alibaba had 231 million active monthly buyers as of December, which is up 44% from a year earlier. For the nine months ended in December, Alibaba generated $6.5 billion in revenue and hit a net income of $2.9 billion.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry