Alibaba is the Most Valuable Online Retailer in the World. Now Worth More than Amazon
If you read our article last week, you may have just been introduced to online juggernaut Alibaba. But with their IPO just recently going live, the company raised $21.8 Billion, making it the largest IPO the US stock market has ever seen. American media company Bloomberg reports that Alibaba’s market value is now $167.6 Billion, a number that surpasses Amazon’s evaluation by just under $20 Billion. According to Racked.com, the company had more than 100 million shares traded in the first 20 minutes of the IPO… WOW.
Image source: MSNBC