Alibaba’s 2014 IPO was the world’s largest until Saudi Aramco’s offering in 2019.
Alibaba raised about $21.8 billion in its initial public offering on the New York Stock Exchange in September 2014. An overallotment option later increased the total to about $25 billion, setting a record that stood for roughly five years.
The company was founded by Jack Ma and colleagues in Hangzhou, China, in 1999. Its businesses include online marketplaces, cloud computing, digital payments through related operations, logistics, and other internet services. The company’s original consumer and business marketplaces helped connect buyers and sellers at enormous scale.
Alibaba’s IPO was notable because the company was based in China but chose to list in the United States. Its corporate structure and later regulatory pressures show why market capitalization reflects not only business performance but also investor views about governance, competition, and national policy.