Alibaba set to be second biggest internet IPO ever
China’s high-flying Internet stocks are about to get a major addition when B2B marketplace Alibaba goes public on November 6. The IPO is on track to raise $1.5 billion for the Chinese Internet company, according to Bloomberg. That would make it the second-biggest Internet IPO ever, after Google’s $1.9 billion offering in 2004. [Techcrunch]
Just weeks ago Chinese video sharing site Tudou.com has claimed that it has surpassed YouTube.com as the world’s largest similar websites.
Time to tap into Chinese market perhaps?