Alibaba Group Holding Ltd, one of the largest privately owned China based company with a number of ecommerce and other internet based technology businesses is been in long with rumors for its speculated IPO.
The e-commerce giant Alibaba is also on a hunt for acquisition, to broaden it’s ecommerce services : says several media sources.
With China’s online market being one of the biggest in the world, Alibaba Group has already surpassed Amazon and eBay combined in its GMV till date according to a report generated by KPCB.
With the speculations about Alibaba’s future plan to add products such as AutoNavi and Weibo to its clan, the news of Alibaba Group’s possible IPO which is around for quite some time now has however, recently gone through following developments.
The group has no plans to include most of it’s financial businesses in the potential IPO, including Alipay, online payment platform and its micro-loan services, said Chief Executive Officer Jonathan Lu, who the company appointed as it’s CEO early this year. Moreover, with strategic decision still under control of Jack Ma (founder and executive chairman of Alibaba Group) Lu’s main task will be to make sure the IPO goes smooth.
With Alibaba having no dates set for it IPO at the moment, and with the button still in Jack Ma’s hands of when the company goes public, the media however, has provided that the expected locations for the potential IPO are either US or Hong Kong.
Talking of the figures, Alibaba could be valued at $60 – $100 billion, and could raise $15 billion, making it one of the world’s biggest internet IPOs. As reported, only the profitable businesses of Alibaba will for public offering including its e-commerce platform Taobao and another asset Aliyun, a cloud computing service launched in 2009, the businesses which contributes most of its revenues.
Having 25 business units, Alibaba attracts business from more than 240 countries and regions. According to a ranking compiled by Business Insider in 2012, the conglomerate holds an estimated valuation of more than $40 billion.Category Internet News