Web Biz Alibaba Launching Record IPO in China

Operation links buyers to Chinese manufacturers
By Colleen Barry,  Newser Staff
Posted Oct 22, 2007 4:24 AM CDT
Web Biz Alibaba Launching Record IPO in China
Yahoo owns 39% of Jack Ma's (pictured) Alibaba.   (Getty Images)

(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. (Read more China stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.