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Alibaba's IPO just went live at $21.8 billion, making it the largest IPO the US has ever seen. Bloomberg reports that Alibaba's market value now sits at $167.6 billion, a value that exceeds Amazon by almost $20 billion.
And that's just the beginning. Re/code is reporting that shares opened today at $92.70 apiece, which puts Alibaba on track to be worth more than Amazon or eBay by the end of the day. According to USA Today, more than 100 million shares were traded within the first 20 minutes of the IPO.
· Alibaba Overtakes Amazon as Most Highly Valued Online Retailer [Bloomberg]
· Alibaba's IPO debut roars, shares soar over 35% [USA Today]
· Alibaba Now Public As It Raises $21 Billion in Biggest Tech IPO [Re/code]
· The Pay Gap Between Retail CEOs and Store Employees Will Astound You [Racked]