Alibaba’s 2014 stock-market debut briefly made it the world’s largest IPO by funds raised.
Alibaba Group began trading on the New York Stock Exchange on September 19, 2014. Its offering raised $21.8 billion initially, and an overallotment option later increased the total to about $25 billion, making it the largest IPO at that time.
Alibaba is a Chinese technology group whose businesses include online marketplaces such as Taobao and Tmall. It also has operations in cloud computing, logistics, digital media, and other internet services. The company was founded by Jack Ma and a group of colleagues in 1999.
The record later changed hands. Saudi Aramco’s 2019 offering surpassed Alibaba’s total, although comparisons depend on whether an overallotment option is included. Alibaba’s debut nevertheless made it one of the most valuable newly listed companies in history and placed its market capitalization among the largest in the world.