Ex-teacher turned internet tycoon, Jack Ma, is on the brink of something huge. The Chinese entrepreneur and creator of Alibaba is in recent news for proposing his company’s IPO share ranging of $60- $66 per share. According to TechCrunch, this would value the company at $162 BILLION which experts believe can easily increase to $200 Billion. Alibaba plans on offering 20.1 Million shares to the public. Out of the shares being offered, Yahoo and Softbank own 61% of Alibaba’s stock.
Reports show that on the first initial day of trading, Alibaba could see profits as large as $20 Billion! Likewise, both Yahoo and Softbank will inevitably be looking at reeling in a hefty sum on returns as well.
According to the Wall Street Journal, Alibaba will be set to launch sometime this week. If this holds true, trading for this e-commerce giant can start as early as September 18th.
Possessing all the capabilities as Pay Pal, Ebay, and Amazon summed up to one company, Alibaba could revolutionize e-commerce in the United States forever.
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