Jacky Ma, founder of Alibaba, became the richest man in China © REUTERS / Lucas Jackson
The Chinese giant online distribution, Alibaba, made a historic entrance to Wall Street. Its action is gone. Proof of hype surrounding this company.
On Wall Street, the title appeared to applause from traders on the stock screens the New York Stock Exchange. Proof of expectations raised by the IPO of China Alibaba. A giant online shopping will become ultimately “the biggest online retailer in the world,” say brokers.
The IPO took place under the eyes of Jack Ma, who founded this business in 1999 with a loan of 60,000 euros. In just 15 years, he has managed to propel his company on Wall Street. “China is in America,” also headlined CNBC Friday.
A successful arrival to Alibaba because in a few hours, the share price has jumped by 37% … . At the highest of the day, it was close with the symbolic threshold of 100 dollars away from its $ 68 introductory price announced Thursday. It finally closed at $ 93.89.
Better than Facebook and Amazon
In fine, Alibaba market capitalization stands at $ 232 billion , well above Facebook (202.31 billion dollars and Amazon (153080000000). “ I am very honored and excited ,” said Jack Ma, who becomes, through this operation , the richest man in China. According to Forbes, his fortune now totals $ 17 billion.
Chinese competitor of eBay and Amazon is almost unknown outside China’s borders . in his home country, however, the company is carving the lion’s share because it controls 90% of online transactions by owners.
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