Alibaba, the Chinese E-Commerce Giant recently started trading at the New York Stock Exchange. Compared to Alibaba, Amazon and Ebay are much smaller in terms of revenue and sales. This is why, Alibaba’s performance in the Stock Exchange has been greatly anticipated.
Alibaba started trading at a price of $92.70 under the stock ticker “BABA”, which is 36% higher than the $68 fetched by the IPO. Alibaba now has a market Cap of $228.5 billion , which is higher than even Facebook. Currently, Alibaba is behind only the big three: Google, Apple and Microsoft.
Alibaba’s IPO was extremely successful, and raised $21.8 Billion, which makes it by far the most successful IPO for a Technology Company.
Alibaba is the leading E-Commerce Company in China, and in terms of sales numbers and revenue, it has already surpassed Amazon.
What do you think of Alibaba’s stunning Debut in the Stock Exchange? Do you think Amazon and Ebay has cause for worry?