Founder and Executive Chairman of Alibaba Group Jack Ma (L) attends the company's initial price offering (IPO) at the New York Stock Exchange on September 19, 2014 in New York City. ; Credit: Andrew Burton/Getty Images

Alibaba's stock is surging as the Chinese e-commerce powerhouse begins its first day trading as a public company.

The stock opened at $92.70 and nearly hit $100 on the New York Stock Exchange Friday, a gain of 46 percent from the initial $68 per share price set Thursday evening.

At Friday's opening price, the company is worth $228.5 billion, more than companies such as Amazon, Ebay and even Facebook.

Jubilant CEO Jack Ma stood on the NYSE trading floor Friday as eight Alibaba customers, including an American cherry farmer and a Chinese Olympian, rang the opening bell.

"We want to be bigger than Wal-Mart," Ma told CNBC shortly after the opening Bell. "We hope in 15 years people say this is a company like Microsoft, IBM, Wal-Mart, they changed, shaped the world."

On Thursday, Alibaba and the investment bankers arranging the initial public offering settled on a price of $68 per share. The company and its early investors raised $21.8 billion in the offering, which valued Alibaba at $168 billion in one of the world's biggest ever initial public offerings.

The company, which is trading under the symbol "BABA," has enjoyed a surge in U.S. popularity over the past two weeks as investors met with executives, including its colorful founder Jack Ma. As part of the so-called roadshow, would-be investors heard a sales pitch that centered on Alibaba's strong revenue growth and seemingly endless possibilities for expansion. Demand was so high that the company raised its offering price to $66 to $68 per share from $60 to $66 per share on Monday.

The main reason investors appear breathless about the 15-year old Alibaba: It offers an investment vehicle that taps into China's burgeoning middle-class.

Alibaba's Taobao, TMall and other platforms account for some 80 percent of Chinese online commerce. Most of Alibaba's 279 million active buyers visit the sites at least once a month on smartphones and other mobile devices, making the company attractive to investors as computing shifts away from laptop and desktop machines.

And the growth rate is not expected to mature anytime soon. Online spending by Chinese shoppers is forecast to triple from its 2011 size by 2015. Beyond that, Alibaba has said it plans to expand into emerging markets and eventually, Europe and the U.S.

"There are very few companies that are this big, grow this fast, and are this profitable," said Wedbush analyst Gil Luria.

Alibaba operates an online ecosystem that lets individuals and small businesses buy and sell. It doesn't directly sell anything, compete with its merchants, or hold inventory.

"The business model is really interesting. It's not just an eBay, it's not an Amazon, it's not a Paypal. It's all of that and much more," said Reena Aggarwal, a professor at Georgetown.

Like China's consumer and Internet market, Alibaba is still growing rapidly. The company's revenue in its latest quarter ending in June surged 46 percent from last year to $2.54 billion while its earnings climbed 60 percent to nearly $1.2 billion, after subtracting a one-time gain and certain other items.

In its last fiscal year ending March 31, Alibaba earned $3.7 billion, making it more profitable than eBay Inc. and Amazon.com Inc. combined. Amazon ended Thursday with a market value of about $150 billion while eBay's market value stood at $67 billion.

Alibaba, is based in Hangzhou in Eastern China, Ma's hometown. The company got started in 1999 when Ma and 17 friends developed a fledgling e-commerce company on the cusp of the Internet boom. Today, Alibaba's main platforms are its original business-to-business service Alibaba.com, consumer-to-consumer site Taobao and TMall, a place for brands to sell to consumers.

And while there's plenty of growth left in China, Ma has recently hinted about plans to expand beyond those borders.

"We hope to become a global company, so after we go public in the U.S., we will expand strongly in Europe and America," Ma said to a group of reporters in Kowloon on Monday.

Alibaba offered 320.1 million shares for a total offering size of $21.77 billion. Underwriters have a 30-day option to buy up to about 48 million more shares. That means the offering size could be as much as $25 billion

The IPO's fundraising handily eclipses the $16 billion Facebook raised in 2012, the most for a technology IPO. If all of its underwriters' options are exercised, it would also top the all-time IPO fundraising record of $22.1 billion set by the Agricultural Bank of China Ltd. in 2010.

Yahoo, which has been struggling to grow for years, made a windfall $8.28 billion by selling 121.7 million of is Alibaba shares. And founder Jack Ma sold 12.75 million shares worth $867 million.

Baba Siddique, 66, was shot dead in Mumbai's Bandra on October 12 at 9:11 pm, the police said. He sustained two bullet injuries on his chest and was rushed to the Lilavati Hospital, where he passed away.

Baba Siddique, 66, was shot dead in Mumbai's Bandra on October 12 at 9:11 pm, the police said. He sustained two bullet injuries on his chest and was rushed to the Lilavati Hospital, where he passed away.

In this report, Peter Dada writes on the forthcoming Ondo governorship election, highlighting the controversy that has trailed INEC’s Resident Electoral Commissioner for the poll On Saturday, over two million registered voters would go to the polling centres to cast their votes for the governorship candidates of their choice, to decide who will steer the

1. Baba Siddique Shooter Waited Near Hospital For 30 Minutes To Confirm Death  NDTV
2. Suspect Watched From Hospital as NCP Leader Baba Siddique Died After Shooting | Mumbai News  The Times of India
3. Baba Siddique murder case: Main accused Shivkumar Gautam makes another BIG revelation | DETAILS  India TV News
4. Baba Siddique killing: Camped outside Siddique’s house in morning, office in evening for a month, accused tells police  The Indian Express
5. Baba Siddique murder: Main shooter returned to murder spot, visited Lilavati Hospital to confirm death  Hindustan Times

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I did not notice there a BIG Alibab Bag at the BlackHawk in Battlefield 2.

A fire at a Digital Realty Singapore datacenter by a lithium-ion battery explosion disrupts Alibaba Cloud services.

Akinola A. Babatunde, PhD, is lauded for his expertise in electrical and energy systems engineering.

Los ocho detenidos marcaban las viviendas con filamentos de pegamento en los marcos de las puertas de entrada para saber el momento idóneo para acceder a las misma Leer

[ENA] Addis Ababa, Ethiopia's vibrant capital, known as the "political capital of Africa," is positioned to enhance its standing as a premier destination for conference tourism. As the headquarters of the African Union (AU) and the United Nations Economic Commission for Africa (UNECA), the city has long been a focal point for international diplomacy. Now, with new developments in tourist infrastructure and culturally rich attractions, Addis Ababa is prepared to host even more international conferences, summits,

Location: Main Library- Shelved Alphabetically

Qwen2.5-Coder-32B is an LLM that can code well that runs on my Mac 12th November 2024 There’s a whole lot of buzz around the new Qwen2.5-Coder Series of open source (Apache 2.0 licensed) LLM releases from Alibaba’s Qwen research team. On first impression it looks like the buzz is well…

The world-famous god man and Spiritual leader Sri Sathya Sai Baba passed away at his Sathya Sai super specialty hospita

Alibaba Group, the e-commerce giant behind the 24-hour Singles' Day shopping blitz, has raked up a record $17. 6 billion in the Singles Day online sales, creating a new record in global retail sales for any single day.

Former Australia captain Ricky Ponting has suggested former Pakistan skipper Babar Azam to replicate Virat Kohli's approach in a bid to rejuvenate his lost form.

Singles Day in China is the world’s largest annual shopping extravaganza. Its creator, the e-commerce giant Alibaba, is now exporting the event to the rest of the world as part of its push to challenge Amazon and others. Photo: Geoffroy Van der Hasselt/Agence France-Presse/Getty Images

Dr. Babar Azam: বাবর আজম ডাক্তারি শুরু করে দিলেন এবার! নেটপাড়ায় ভিডিয়ো ঝড় তুলে দিল

Baba Bageshwar's message asks for a similar expression in the digital world by adding "Hindu" to social media names.

Despite their entertainment quotient, the commoners are being targeted over their boring 'celebrity; counterparts.

Yogi to judge dancers now!

Experience the aura of Shirdi.

Police suspect accused Amit Hisamsing Kumar was involved in hatching the conspiracy and its execution

Elsewhere, the investigators seized a pistol from the rented house of one of the arrested accused in Panvel area near Mumbai.

Gaurav Vilas Apune, a resident of Karvenagar locality of Pune city, is the 16th person to be arrested in the case

Four others, namely Anurag Kashyap, Gyan Prakash Tripathi, Akash Srivastava and Akhilendra Pratap Singh, have been arrested for sheltering Shivkumar and helping him flee to Nepal

Uttar Pradesh special task force and the Mumbai Crime Branch arrested the shooter, Shivkumar (20), and his four protectors from Nanpara in Uttar Pradesh's Bahraich district.

Karnataka voters decimated the incumbent Bharatiya Janata Party and gave Congress an unambiguous mandate, with 135 seats in the 224-member Legislative Assembly

Babar Azam, whose cover drives have some similarities with Kohli, has enjoyed a conistent run in Tests since 2018 matching the likes of Kohli, Australia's run machine Steve Smith, New Zealand skipper Kane Williamson and England's Joe Root.

In the four Tests played during the year, Babar scored 338 runs at an average of 67.6.

India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.

Alibaba can’t be included in the stock connect programme linking Hong Kong with the Shanghai and Shenzhen exchanges at present.

The post Alibaba’s China disconnect a serious blow to Hong Kong appeared first on DealStreetAsia.

CFO Maggie Wu told investors that China's retail and local consumer businesses would be hit hardest.

The post How China’s coronavirus outbreak is bringing Alibaba to its knees appeared first on DealStreetAsia.

The deal values the 50-storey office development at S$1.68 billion ($1.2 billion).

The post Alibaba unit buys 50% stake in Singapore’s AXA Tower appeared first on DealStreetAsia.

Alibaba Group, the e-commerce giant behind the 24-hour Singles' Day shopping blitz, has raked up a record $17. 6 billion in the Singles Day online sales, creating a new record in global retail sales for any single day.

The man who invented China’s Singles Day eyes opportunity offline

... ... Petitioner/s Versus The State of Bihar ... ... Opposite Party/s ====================================================== Appearance :

For the Petitioner/s : Mr. Vijay Kumar Sinha, Advocate For the State : Mr. Satyendra Prasad, APP ====================================================== CORAM: HONOURABLE MR. JUSTICE AHSANUDDIN AMANULLAH ORAL JUDGMENT Date : 17-03-2020 Heard learned counsel for the petitioner and learned APP for the State.

2. The petitioner seeks bail in connection with Barauni (Refinery) PS Case No. 521 of 2018 dated 06.11.2018 instituted under Sections 307/34 of the Indian Penal Code and 27 of the Arms Act.

Founder and Executive Chairman of Alibaba Group Jack Ma (L) attends the company's initial price offering (IPO) at the New York Stock Exchange on September 19, 2014 in New York City. ; Credit: Andrew Burton/Getty Images

Alibaba's stock is surging as the Chinese e-commerce powerhouse begins its first day trading as a public company.

The stock opened at $92.70 and nearly hit $100 on the New York Stock Exchange Friday, a gain of 46 percent from the initial $68 per share price set Thursday evening.

At Friday's opening price, the company is worth $228.5 billion, more than companies such as Amazon, Ebay and even Facebook.

Jubilant CEO Jack Ma stood on the NYSE trading floor Friday as eight Alibaba customers, including an American cherry farmer and a Chinese Olympian, rang the opening bell.

"We want to be bigger than Wal-Mart," Ma told CNBC shortly after the opening Bell. "We hope in 15 years people say this is a company like Microsoft, IBM, Wal-Mart, they changed, shaped the world."

On Thursday, Alibaba and the investment bankers arranging the initial public offering settled on a price of $68 per share. The company and its early investors raised $21.8 billion in the offering, which valued Alibaba at $168 billion in one of the world's biggest ever initial public offerings.

The company, which is trading under the symbol "BABA," has enjoyed a surge in U.S. popularity over the past two weeks as investors met with executives, including its colorful founder Jack Ma. As part of the so-called roadshow, would-be investors heard a sales pitch that centered on Alibaba's strong revenue growth and seemingly endless possibilities for expansion. Demand was so high that the company raised its offering price to $66 to $68 per share from $60 to $66 per share on Monday.

The main reason investors appear breathless about the 15-year old Alibaba: It offers an investment vehicle that taps into China's burgeoning middle-class.

Alibaba's Taobao, TMall and other platforms account for some 80 percent of Chinese online commerce. Most of Alibaba's 279 million active buyers visit the sites at least once a month on smartphones and other mobile devices, making the company attractive to investors as computing shifts away from laptop and desktop machines.

And the growth rate is not expected to mature anytime soon. Online spending by Chinese shoppers is forecast to triple from its 2011 size by 2015. Beyond that, Alibaba has said it plans to expand into emerging markets and eventually, Europe and the U.S.

"There are very few companies that are this big, grow this fast, and are this profitable," said Wedbush analyst Gil Luria.

Alibaba operates an online ecosystem that lets individuals and small businesses buy and sell. It doesn't directly sell anything, compete with its merchants, or hold inventory.

"The business model is really interesting. It's not just an eBay, it's not an Amazon, it's not a Paypal. It's all of that and much more," said Reena Aggarwal, a professor at Georgetown.

Like China's consumer and Internet market, Alibaba is still growing rapidly. The company's revenue in its latest quarter ending in June surged 46 percent from last year to $2.54 billion while its earnings climbed 60 percent to nearly $1.2 billion, after subtracting a one-time gain and certain other items.

In its last fiscal year ending March 31, Alibaba earned $3.7 billion, making it more profitable than eBay Inc. and Amazon.com Inc. combined. Amazon ended Thursday with a market value of about $150 billion while eBay's market value stood at $67 billion.

Alibaba, is based in Hangzhou in Eastern China, Ma's hometown. The company got started in 1999 when Ma and 17 friends developed a fledgling e-commerce company on the cusp of the Internet boom. Today, Alibaba's main platforms are its original business-to-business service Alibaba.com, consumer-to-consumer site Taobao and TMall, a place for brands to sell to consumers.

And while there's plenty of growth left in China, Ma has recently hinted about plans to expand beyond those borders.

"We hope to become a global company, so after we go public in the U.S., we will expand strongly in Europe and America," Ma said to a group of reporters in Kowloon on Monday.

Alibaba offered 320.1 million shares for a total offering size of $21.77 billion. Underwriters have a 30-day option to buy up to about 48 million more shares. That means the offering size could be as much as $25 billion

The IPO's fundraising handily eclipses the $16 billion Facebook raised in 2012, the most for a technology IPO. If all of its underwriters' options are exercised, it would also top the all-time IPO fundraising record of $22.1 billion set by the Agricultural Bank of China Ltd. in 2010.

Yahoo, which has been struggling to grow for years, made a windfall $8.28 billion by selling 121.7 million of is Alibaba shares. And founder Jack Ma sold 12.75 million shares worth $867 million.

Small and medium-sized enterprises (SMEs) in India are set to benefit from a $30 million global "anti-COVID" programme that Alibaba Cloud, the data intelligence backbone of Chinese e-commerce giant Alibaba Group, launched on Thursday.

Ming Zeng, the chief strategy officer at Alibaba, talks about how the China-based e-commerce company was able to create the biggest online shopping site in the world. He credits Alibaba’s retail and distribution juggernaut to leveraging automation, algorithms, and networks to better serve customers. And he says in the future, successful digital companies will use technologies such as artificial intelligence, the mobile internet, and cloud computing to redefine how value is created. Zeng is the author of "Smart Business: What Alibaba's Success Reveals about the Future of Strategy.”

Dave Ulrich, professor at the University of Michigan Ross School of Business, argues today's companies need to replace old hierarchical models with he calls a “market-oriented ecosystem.” From research at Alibaba, Google, Huawei, Supercell, and others, he shows the impressive results of orienting teams and processes toward market opportunities. Ulrich is the coauthor, along with Tencent senior advisor Arthur Yeung, of “Reinventing the Organization: How Companies Can Deliver Radically Greater Value in Fast-Changing Markets.”

In his first tweet the billionaire said 500,000 testing kits and one million masks were going to the US.