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Alibaba breaks records on the stock exchange

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The headquarters of the Alibaba Group in Hangzhou, China. (Photo: www.alibabagroup.com)

CN/USA – On September 19, 2014 the Chinese online platform Alibaba was floated on the New York stock exchange The expected record price for the Alibaba shares, the issue price, which had been set at 68 Dollars (approx. 53 Euros) one day before being issued on the US stock exchange, was already exceeded on the first trading day: According to reports by ARD, the share closed at 93.89 Dollars (approx. 73.66 Euros) and was thus up 38% on the issue price. The market value of the Chinese online trader that has thus acquired more capital on the Wall Street than any other company previously, increased up to 231 bill. Dollars (around 181 bill. Euros). After its successful start, Alibaba is listed as ranking fourth among the top 10 most valuable technology firms in the world, behind Apple, Google and Microsoft.

Alibaba was founded by Jack Ma in 1999. Today, the Alibaba Group winds up around 80% of all private internet purchases in China with around 300 mil. customers and 25,000 employees, not to forget the B2B platform alibaba.com. According to estimates, the overall volume of purchases carried out via the Alibaba portals is expected to reach almost 300 bill. Euros. Alibaba already sells far more goods than Amazon and Ebay together.

www.alibaba.com

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2016-10-21T14:22:43+00:00 September 30th, 2014|