Monday, May 26, 2014

Alibaba IPO, Cloud Computing

Alibaba files for IPO that could be biggest in history for tech company - San Jose Mercury News: "...."eBay, Amazon and Google (should) be scared," said Matthew Turlip, an analyst with PrivCo financial group. "I think Alibaba is definitely going to be a major player. There's no reason for them not to go after the U.S. market. It's not a matter of if, but when." Alibaba did not price shares in the IPO filing and gave only a placeholder target amount of $1 billion, but some analysts expect the company could raise more than $15 billion, setting it close to or surpassing Facebook's record-breaking $16 billion IPO in 2012. Hong Kong-based Alibaba's platforms include online shopping, business-to-business sales, online payments, wholesale trade and cloud computing -- often described as a combination of eBay and Amazon, and at a fraction of the price. According to filings with the U.S. Securities and Exchange Commission, Alibaba's retail marketplace processes 11.3 billion orders a year worth $248 billion...."

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