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August 29, 2008 1:12:38 CDT

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Web Biz Alibaba Launching Record IPO in China

Posted Oct 22, 07 4:24 AM CDT in World,  Business 

(Newser) – Alibaba, the business-to-business service that links small and mid-sized Chinese manufacturers to customers around the world, is expected today to announce what will likely be the biggest Internet IPO  in Chinese history. Analysts expect the world's most-visited import/export site to pull in an estimated $1.3 billion from Hong Kong investors, the Wall Street Journal reports.

Yahoo owns 39% of the company, one of the few Chinese operations with a global profile. The IPO also includes Taobao, an online auction company that surpassed eBay to become the market-share leader in China. Alibaba's expansion is clouded by the continuing crisis over Chinese-made products that are tainted or counterfeit, the Journal notes.

Source Wall Street Journal

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Yahoo owns 39% of Jack Ma's (pictured) Alibaba.   (Getty Images)
Alibaba.com CEO Jack Ma speaks during a news conference to launch the software called ALISOFT in Shanghai, China, in this Jan. 8, 2007 file photo. Alibaba.com Corp., a leading Chinese online commerce...   (Associated Press)
Alibaba execs celebrate after Yahoo bought a 39% stake in the company.   (Getty Images)
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China  • Yahoo  • business  • IPO  • Made in China  • Alibaba


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