According the The New York Times, Alibaba, the Amazon of China, “filed paperwork on Tuesday in the United States to sell stock to the public for the first time, in an embrace of the global capital markets that represents a coming-of-age for China’s booming Internet industry.”
Alibaba is like a combination of Amazon, eBay, and PayPal, said Sameet Sinha, an analyst with B. Riley & Company, a boutique investment bank in Los Angeles. “When it makes its debut on the New York Stock Exchange or the Nasdaq market, Alibaba is also expected to have a share price that could value the company at roughly $200 billion — more than the market value of Facebook, Amazon.com or eBay, although still trailing that of Google or Apple.”
Check out this video from The New York Times to learn more about Alibaba.
How will Alibaba affect companies like Amazon? Only time can tell.