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Granting a wish
HOME > PAST ISSUE > SPECIAL REPORT [Premium content]December 2007
Having sent shock waves through the business world with its massively successful IPO, what’s next for Alibaba.com?
The tech world is accustomed to stratospheric valuations, but even this was too much for some. Alibaba.com’s trading debut ended with its share price touching HK$40 (US$5.12), nearly three times what it had opened at. The Hangzhou-based business-to-business (B2B) internet portal, which raised US$1.5 billion in its initial public offering a week earlier, had become a company with a US$25 billion market capitalization overnight. Even the most bullish analysts couldn’t believe it. ...
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