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Alibaba’s $21 Billion IPO is the Biggest in US History

 

Alibaba

When Alibaba stopped trading its shares on Friday, the Chinese e-commerce company had officially logged the biggest Initial Public Offering (IPO) in US history, raising $21.8 billion in its first day on the New York Stock Exchange. The company’s earnings give it a market capitalization of over $200 billion, “putting it among the 20 biggest companies by market cap in the US,” the Wall Street Journal notes. Alibaba’s IPO beat out record IPOs like Visa’s $17.9 billion IPO in 2008 and General Motors’ $15.8 billion sale in 2010. And Alibaba beat out its peers in the tech sector too, like Facebook (whose first-day earnings were $16 billion) and Google (whose 2004 IPO raised only $1.67 billion—paltry in today’s terms). Earlier this month, the company announced that it would price shares at $66 per share. This morning around 12pm ET, the NYSE gave the go-ahead for the company, whose ticker symbol is BABA, to start trading.

Read the full story at Ars Technica.

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Shelly Palmer is the host of Fox Television’s "Shelly Palmer Digital Living" television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.