By — Rebecca Jacobson, Inside Energy Rebecca Jacobson, Inside Energy Leave your feedback Share Copy URL https://www.pbs.org/newshour/economy/alibaba-ipo-opens-roar-new-york-stock-exchange Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Alibaba IPO opens with a roar on the New York Stock Exchange Economy Sep 19, 2014 1:53 PM EDT Chinese e-commerce giant Alibaba began trading on the New York Stock Exchange at noon EDT today, opening at $92.70 a share — a 40 percent raise from its $68/share pricing the night before. That’s a bigger increase than Amazon.com saw it opening day in 1997. The company is expected to raise more than $21.8 billion, making Alibaba the biggest IPO in U.S. history. Alibaba is raising more than Google, Facebook, & Twitter combined: http://t.co/xegZWfqFfc pic.twitter.com/TkbKpqRbg1 — Forbes (@Forbes) September 19, 2014 Alibaba is the highest valued internet-based company at its debut on the public market, worth $168 billion. It beats Facebook ($104 billion at its opening in 2012) and Google ($23 billion in 2004). To mark its much-anticipated opening day, the Alibaba Group gifted a “Tao doll” to the New York Stock Exchange, an enamel-decorated sculpture based on the mascot of the Taobao marketplace. Hangzhou-based Alibaba is China’s version of eBay, founded in 1999 by Jack Ma, an English teacher turned businessman. Much like its American counterpart, the website sells everything from electronics to hair extensions. Alibaba also has investments in U.S.-based startups like Lyft and ShopRunner. Financial analysts believe the company can avoid a repeat of Facebook’s 2012 disastrous market opening. The social media company opened flopped on its much-hyped debut, closing at a 23 cents above from its offered price of $38 after a series of technical glitches. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now By — Rebecca Jacobson, Inside Energy Rebecca Jacobson, Inside Energy @rebeccajacobson
Chinese e-commerce giant Alibaba began trading on the New York Stock Exchange at noon EDT today, opening at $92.70 a share — a 40 percent raise from its $68/share pricing the night before. That’s a bigger increase than Amazon.com saw it opening day in 1997. The company is expected to raise more than $21.8 billion, making Alibaba the biggest IPO in U.S. history. Alibaba is raising more than Google, Facebook, & Twitter combined: http://t.co/xegZWfqFfc pic.twitter.com/TkbKpqRbg1 — Forbes (@Forbes) September 19, 2014 Alibaba is the highest valued internet-based company at its debut on the public market, worth $168 billion. It beats Facebook ($104 billion at its opening in 2012) and Google ($23 billion in 2004). To mark its much-anticipated opening day, the Alibaba Group gifted a “Tao doll” to the New York Stock Exchange, an enamel-decorated sculpture based on the mascot of the Taobao marketplace. Hangzhou-based Alibaba is China’s version of eBay, founded in 1999 by Jack Ma, an English teacher turned businessman. Much like its American counterpart, the website sells everything from electronics to hair extensions. Alibaba also has investments in U.S.-based startups like Lyft and ShopRunner. Financial analysts believe the company can avoid a repeat of Facebook’s 2012 disastrous market opening. The social media company opened flopped on its much-hyped debut, closing at a 23 cents above from its offered price of $38 after a series of technical glitches. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now