Alibaba Group conducted the world’s largest initial public offering when it debuted on the New York Stock Exchange in September 2014. The offering raised about $25 billion after underwriters exercised an over-allotment option.
Alibaba was founded by Jack Ma and colleagues in Hangzhou in 1999. Its businesses include the Taobao consumer marketplace, Tmall brand platform, Alibaba.com international wholesale site, logistics, cloud computing, and digital payments links through the wider Ant ecosystem.
The record IPO is separate from a company’s later market capitalization. Alibaba’s share price has risen and fallen substantially since listing, influenced by Chinese economic conditions, regulation, competition, and global technology sentiment. The New York listing uses the ticker BABA, while Alibaba also has a primary listing in Hong Kong.