Which company’s 2014 IPO became the largest technology-company IPO at that time?

Alibaba Group’s 2014 IPO became the largest technology-company IPO at that time.

Alibaba listed on the New York Stock Exchange on September 19, 2014, under the ticker BABA. The offering initially raised about $21.8 billion and reached roughly $25 billion after additional shares were sold through the overallotment option.

The listing was notable because Alibaba used a variable-interest-entity structure that allowed international investors to gain economic exposure to the Chinese business without directly owning a conventional mainland Chinese operating company. This structure became an important part of discussions about Chinese technology listings.

Alibaba’s business was built around e-commerce platforms serving consumers and merchants. Its market capitalization after listing reflected investor expectations about future growth, not simply the cash raised in the IPO.