Alibaba Soars in IPO

The Chinese internet giant, Alibaba, went public last Friday on the New York Stock Exchange with it’s share price soaring to $99 after opening at around $92.

As mentioned in a previous post predicting that Alibaba will IPO this year the group made almost $6 Billion in one day alone last year and has proven itself time and again to be the biggest e-commerce company in not only China but in the World. They’re also becoming more and more interested in technology with a cloud computing company among others on it’s books.

This IPO was the largest in stock market history after raising $25 Billion for the group.


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