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Alibaba files IPO in the US, could raise more than $20 billion

Alibaba is set to make history by filing its first IPO in the US and is widely expected to raise more than $20 billion from US investors.

@CharlesJGantt
Published Wed, May 7 2014 12:43 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Alibaba is the world's largest marketplace for wholesale goods coming out of the Asian manufacturing markets which makes its one of the largest distributors of goods in the world. Today Alibaba took the next step that will allow it to become one of the most powerful companies on earth by filing for its initial public offering with the US Securities and Exchange Commission.

Alibaba files IPO in the US, could raise more than $20 billion | TweakTown.com

While no official numbers were released, it is expected that Alibaba has filed the IPO for $1 billion, a very small number when compared with that industry analyst expect the company to raise. Many are expecting Alibaba to raise more than $20 billion based on its consistent annual growth and earnings. To put things into perspective, Alibaba ships over 100 million packages every day and pushes out a gross merchandise volume of more than $80 billion. Ebay, the US' closest thing to Alibaba, only manages a GMV of $20 billion. If its any indication of how big this could be, the IPO is being underwritten by almost all of the major players on Wall Street including: Goldman Sachs, JPMorgan, Morgan Stanley, Citigroup, and Credit Suisse.

NEWS SOURCE:usatoday.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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