Alibaba raises over $21 billion, making it the biggest IPO ever in the US

Alibaba logoWhen Alibaba stopped trading its shares on Friday, the Chinese e-commerce company had officially logged the biggest Initial Public Offering (IPO) in US history, raising $21.8 billion in its first day on the New York Stock Exchange. The company's earnings give it a market capitalization of over $200 billion, "putting it among the 20 biggest companies by market cap in the US," the Wall Street Journal notes.

The company, which is an e-commerce site that makes a large bulk of its money selling services and advertising, is often compared to Amazon and eBay, although they are not generally direct competitors. As many Ars commenters pointed out in our last story on Alibaba, this NPR Planet Money story goes a long way in explaining the nature of Alibaba’s business—basically, Alibaba is known for making it easy to buy almost anything from manufacturers in China online, and directly from the manufacturer, at that.

Alibaba raises over $21 billion, making it the biggest IPO ever in the US

The Wall Street Journal notes that many investors were not able to buy shares on the first day. About half of the shares were sold to 25 investment firms. "That's unusually concentrated for a deal of this size, said a banker familiar with the process,” the WSJ notes. Sources also say that most of the shares went to US investors.

Now, many investors will wait to see if that price holds in the coming days and weeks. Facebook and Twitter both faced stock tumbles soon after their IPOs, and CBS news notes that value investors may hold off to see if a lower price can be had before they buy in.

Source: Ars Technica

Tags: Internet

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Galaxy Note10 really is built around a 6.7-inch display
 
You may still be able to download your content
 
Facebook, Messenger and Instagram are all going away
 
Minimize apps to a floating, always-on-top bubble
 
Japan Display has been providing LCDs for the iPhone XR, the only LCD model in Apple’s 2018 line-up
 
The 2001 operating system has reached its lowest share level
 
The entire TSMC 5nm design infrastructure is available now from TSMC
 
The smartphone uses a Snapdragon 660 processor running Android 9 Pie
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 / 2
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
   1234
567891011
12131415161718
19202122232425
2627282930  




Poll

Do you use microSD card with your phone?
or leave your own version in comments (15)