Alibaba — From Hangzhou to Wall Street


Chinese ecommerce giant Alibaba on Tuesday filed for a $1 billion IPO with the US Securities and Exchange Commission (SEC). It will list either on the New York Stock Exchange or the Nasdaq and has not yet specified a ticker symbol.

Founded in 1999 by Jack Ma, a former English teacher, Alibaba reported revenues at $5.55 billion on profits of $1.37 billion, for the financial year ended March 31, 2013.

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