Business: Alibaba

Alibaba went public on Friday. No, we’re not talking about one of the stories in Arabian Nights. Alibaba is an online marketplace, a combination of Ebay, Amazon, and PayPal based in Hangzhou, China. In 2014, 255 million active buyers and 8 million active sellers were involved in transactions through the compnay.  In fact, Alibaba handles more business than any other online e-commerce company. The company began trading its shares on the New York stock exchange and debuted with an IPO that raised 21.8 billion dollars. Per share, the stock was $92.70 and the company is worth 225.8 billion dollars. The IPO is likely one of the biggest in history and easily surpassed the IPO of large companies such as Facebook.

Contributor: Ashni Nadgauda

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