Which company created the world's largest IPO when it went public in 2014?

Alibaba Group created the world's largest initial public offering when it went public in 2014.

Alibaba raised about $25 billion in its September 2014 IPO on the New York Stock Exchange, making it the largest IPO at that time. The offering gave international investors access to one of China's most influential technology and commerce companies.

Alibaba was founded by Jack Ma and colleagues in Hangzhou in 1999. Its businesses include online marketplaces such as Taobao and Tmall, cloud computing, logistics, digital media, and other consumer services. The group is not the same company as Amazon, although both operate major e-commerce businesses.

Saudi Aramco later surpassed Alibaba's original IPO record in 2019, depending on whether overall offering size or subsequent share sales are counted. That distinction is why this question specifies the 2014 event. An IPO is a fundraising and listing event, while market capitalization is the later value assigned by public trading.