Alibaba files to raise billions in its initial public offering


Alibaba, one of the top three web companies in China, has filed to raise at least $1 billion via an initial public offering. When it finally hits the public markets analysts expect it to be valued at around $200 billion, making it larger than internet darlings like Facebook, LinkedIn and Twitter.

Wall Street is eager for the IPO, with many seeing it as a chance to buy into the growing Chinese market. The New York Times expects the company expects the company to sell between $15 billion and $20 billion in shares. Alibaba operates several websites, including a Chinese e-commerce site, a site where U.S. buyers can buy from China and a cloud computing arm called Apsara that made $105 million in the last twelve months, about 2 percent of its sales.

Last year, Alibaba had net income of $1.33 billion on revenue of $5.55 billion, for its fiscal year…

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