Alibaba Finally Files For IPO, Which Is Said To Be Largest Ever For Tech CompanyBy: Chris Crum - May 7, 2014
As expected for quite a while, Alibaba has finally filed for its IPO, and word is that it will be the biggest one ever for a tech company.
The Chinese e-commerce giant dominates mobile commerce in that country, accounting for a reported 76% of all sales and roughly 136 million MAUs.
Alibaba also detailed its financial performance for the first nine months of its fiscal year 2013, which includes revenue of $6.51 billion and net income of $2.85 billion. Here’s the filing (via Mercury News):
The company expects to sell about 12% of its shares, which means that the IPO could bring in around $20 billion, according to reports.
Here’s what the Twitterverse is saying about the company:
Image via Wikimedia Commons