Tomahawk, WI 09/19/2014 (Basicsmedia) – Alibaba Group Holding Ltd (NYSE:BABA) made a successful U.S. listing launch, raising $21.8 billion in the IPO and racing up more than 32% to $90 in the afternoon Friday. Shares touched $99.70 in the early session Friday. The company’s value of $231.7 billion dwarfs that of its larger rivals Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY) combined, Bloomberg stated in an article. The Chinese Internet marketplace priced its IPO at $68.

Alibaba was always going to make a big launch, but its $21.8 billion IPO breaks the record in initial public offering history. It is even interesting to know the humble beginning of the company. Alibaba was started in the living room by an English teacher back in 1999, but has now grown to dwarf all except 9 companies in the S&P 500 Index. The company was founded Jack Ma, who managed to raise $60,000 for it at the beginning. The founder now owns about 7.8% of the company and has a net worth of $21.9 billion, according to reports.

Highly concentrated group of investors

Prior to the now successful IPO, Alibaba Group Holding Ltd (NYSE:BABA) conducted road shows to draw investors around the world. The company focused on mainly attracting long-term investors, which it achieved because it is reported that nearly half of the Alibaba shares went to only 25 accounts. Experts said that 25 accounts in an IPO signal a highly concentrated group of investors.

Growing beyond traditional field

Alibaba Group Holding Ltd (NYSE:BABA) may already be known as an e-commerce company with a dominant market share in a country of 1.36 billion people. However, the company has greater plans for its future. The company intends to grow its ambitions beyond its home base, China, and the marketplace space.

With the support of big institutional investors, massive funds from a successful IPO and a burgeoning Chinese consumer class, Alibaba Group Holding Ltd (NYSE:BABA) is not afraid to make big investment steps, especially in areas that its rivals cannot dream of because of the huge investments required. That means that Alibaba’s growth can only accelerate as it races ahead of the competition.

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