10 things you should know about Alibaba
Chinese e-commerce company Alibaba has just gone public. Find out what it means — and why it’s a big deal. Image: Associated Press A Chinese company named Alibaba went public this past Friday, with shares opening at $92.70 — a 36% jump above the initial IPO price of $68. More than 100 million shares were traded within 20 minutes; the day’s total was over 271 million shares. All in all, Alibaba raised nearly 22 billion dollars so far, making it the biggest US IPO (Facebook brought in $16 billion when it went…
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