You might not know Alibaba now, but this Chinese e-commerce site is poised to have an IPO even bigger than Facebook’s. Here’s what you need to know.
1. Alibaba Is a Massive Chinese E-Tailer
The video above outlines Alibaba’s worth.
Alibaba is an e-commerce site based in China. The company is now preparing an IPO. According to Business Insider, Citigroup, Credit Suisse Deutsche Bank, Goldman Sachs, J.P. Morgan and Morgan Stanley are working with Alibaba on the IPO.
2. Alibaba Employs More People Than Yahoo or Facebook
According to Business Insider, 24,000 people work for Alibaba. That means that the Chinese company not only has more employees than Yahoo! or Facebook, but in fact Alibaba has more employees than Facebook and Yahoo! combined.
Another fun fact: Yahoo currently owns 24% of Alibaba. The photo above shows Alibaba’s leaders alongside Yahoo’s chief operating officer Daniel Rosensweig during a press conference.
3. Alibaba IPO Expected to Be Higher Than Facebook’s IPO
— Nick Mehta (@nrmehta) March 19, 2014
4. Alibaba Could Be Biggest Chinese Listing in US
The video above talks about two Chinese companies going public in the US: Weibo and Alibaba.
According to the Wall Street Journal, the Alibaba offering is expected to be the largest listing by a Chinese company in the US.
“The New York Stock Exchange is the front-runner to win the high-profile listing for the shares of Chinese e-commerce giant Alibaba Group Holding Ltd., according to people familiar with the matter.
The listing is expected to be the largest ever in the U.S. by a Chinese company and would be a major prize for the iconic exchange.”
5. Alibaba Makes Massive Profits
— Bloomberg Real M&A (@Real_MNA) March 19, 2014
According to Business Insider, “During the Chinese equivalent of Black Friday, Alibaba processed more than $5.75 billion in sales. That’s 3X more sales in just one day than America saw on Black Friday — on just one company’s websites.”
China is a massive market, and it is expected that Alibaba’s proven track record with sales is what will propel the company’s IPO sky-high.