Alibaba Group became one of the world’s largest IPOs when it listed in New York in 2014.
Alibaba’s initial public offering on the New York Stock Exchange raised about $21.8 billion, making it the largest IPO at the time. An over-allotment option later increased the total to about $25 billion. The listing gave international investors access to one of China’s biggest internet businesses.
Alibaba operates marketplaces including Taobao and Tmall, and it has also built businesses in cloud computing, logistics, digital media, and payments-related services. Its business is broader than a single online store.
The company is often confused with Ant Group, a financial-technology affiliate that operates Alipay. Alibaba Group and Ant Group are separate corporate entities, even though they have historical ownership and business links.