The name smells slightly of 1001 Nights, 20 min and the founder of the wide spread of Chinese e-com

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The stage is set to record when the Chinese e-commerce company Alibaba Friday 20 min quoted on the stock exchange in New York. Sep 19 2014 pm. 7:26 Alibaba founder Jack Ma can expect a daily wage of five billion dollars, when his company today listed. Photo: EDGAR SU Scanpix
The name smells slightly of 1001 Nights, 20 min and the founder of the wide spread of Chinese e-commerce company Alibaba, there are at least talking about an adventure when the company Friday for public offering in New York.
Founded in 1999 by the 50-year-old former English teacher Jack Ma, and he is expected personally to score five billion dollars on the listing. Then he will continue to own 7.8 percent of the shares at an estimated value of $ 13 billion, writes CNN Money. 20 min
Alibaba is expected to raise 165 billion from the IPO will be the largest in the United States. The company will then have a total market capitalization 20 min of 940 billion dollars. Greater than eBay and Amazon combined
Alibaba controls about 80 percent of China's e-commerce and has a turnover greater than Amazon and eBay combined. A report by the consulting firm McKinsey predicts that an affluent Chinese middle 20 min class will explode in the coming years and it will be beneficial to Alibaba as dominant supplier.
The company is also behind Internet shops Taobao and Tmall. Taobao is a Chinese version of eBay and Tmall sell branded products directly to consumers, and this has companies like Microsoft, Lego and Puma their own portals. 20 min Rapid development
Revenue increased by 46 percent, while profits jumped by a full 180 percent. And even cleaned for technical upgrades 20 min of a number of acquisitions, the surplus was 60 percent.
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