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Alibaba IPO values the company at $168 billion

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Alibaba IPO values the company at $168 billion


The biggest e-commerce company you’ve never heard of is about to strike it rich on the New York Stock Exchange.

Alibaba, a set of Chinese trading websites that have beaten the likes of Amazon and eBay combined in sales, has launched its Initial Public Offering (IPO).

At $68 per share, the company has been valued at nearly $168 billion.

Founder Jack Ma, who started his first site from a one bedroom flat, is now set to join the likes of Bill Gates into the ranks of tech billionaires by netting around $14 billion from the sale.

Looking likely to be the most successful IPO of all time, Alibaba is now looking to expand globally, and has even applied for a banking licence in China.

Shares will make their debut on Friday.

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