The Success of Alibaba
Have you heard about Alibaba Group Holding? Alibaba is an e-commerce company founded on April 4, 1999 at Hangzhou, China. It offers online web portals, retail services, payment services and cloud computing services. The group became successful that in 2012, two of their portals brought in $170 billion sales which made more than its competitors – eBay and Amazon.com.
Jack Ma is the founder of Alibaba. On September 5, 2014, the group filed their price range for the Initial Public Offering (IPO) at the US Securities and Exchange Commission. It was originally set at US $60 to $66 per share. The final price will be determined after Alibaba’s international road show. It is expected that Alibaba’s listing at the New York Stock Exchange will raise more or less $20 billion which is the largest listing in the history of US.
The international road show commenced from New York to Los Angeles, Baltimore, San Francisco, Boston and Denver. The road show reached Singapore, London and Hong Kong. The purpose of the road show is to scale the interests of investor in Alibaba’s shares. As mentioned earlier, the original price per share was set at US $60 to $66 but on September 19, the price per share went to $92.70. That day, Alibaba raised about $21.8 billion.
Alibaba is now valued at US $231 billion. The company is indeed larger than eBay and Amazon.com combined. The company services more than three hundred million customers around the world. Ma only started the company with borrowed money amounting to US $60,000. You too can have this kind of success story. Remember that Singapore offers lots of opportunities. It is a matter of grabbing it.