Alibaba Group’s 2014 stock-market listing raised a record $25 billion, later surpassed by Saudi Aramco.
Alibaba listed on the New York Stock Exchange on September 19, 2014. Its initial public offering raised $21.8 billion, and an over-allotment option increased the total to approximately $25 billion. That made it the largest IPO in history at the time.
The company was founded by Jack Ma and 17 co-founders in Hangzhou in 1999. Alibaba developed major online-commerce platforms including Taobao and Tmall, while also building businesses in cloud computing, digital payments, logistics, and entertainment.
Saudi Aramco exceeded Alibaba’s record in 2019. IPO proceeds and market capitalization should not be confused: proceeds measure money raised by selling shares, while market capitalization values all outstanding shares at the current market price. Alibaba’s U.S. shares trade under the ticker BABA.