Alibaba IPO Makes Founder Jack Ma China's Richest Man

Print Posted Date : 21-Sep-2014 , 11:21:42 am | Posted By CASANSAAR

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Web commerce giant Alibaba had the largest IPO in U.S. history on Friday, making its founder Jack Ma the richest man in China. Shares started at $68 and balooned to $92 before the closing bell.

The IPO places Alibaba's worth at $13 billion, with a $163 billion valuation slightly ahead of Amazon. Alibaba runs some of China's largest online shopping and service operations, with many of their services like Taobao and Tmail being the most popular among consumers.

Category : Shares & Stock | Comments : 0 | Hits : 420

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