The importance of Chinese economy is not a surprise and it is well known, it is not only manufactured related but also it has relevant technological brands as Lenovo, Huawei and so on, but so far it wasn’t so present, at least in common man mind, in the market segment handled by Google, Facebook, Amazon. Well, now this barrier is broken, Alibaba confirmed its willingness to quote itself in Wall Street and analysts think that it could collect about 15 USD Bln IPO, and in the more optimistic forecast it could also exceed Facebook (16 USD Bln) with so a capitalization of about 100 USD Bln. Alibaba Group is a privately owned company based in Hangzhou –China, the Wall Street Journal defines Alibaba as a sort of Amazon, eBay (with Alibaba and Taobao) and Paypal (with Alipay) mix with a bunch of Google and obvious Chinese related stuff. It has an online of slight less than 800 million products and the money flow in an year is claimed by Alibaba about 170 USD Bln (1.1 trillion yuan) , more than Amazon and eBay summed.
The importance and of Alibaba has been also highlighted by the fact that its owner, Jack Ma (Ma Yun) was named the Financial Times’ 2013 Person of the Year because he personifies the Chinese internet referring to him as the “godfather of China’s scrappy entrepreneurial spirit.”
HTGadgets 