Alibaba shares open at a high $92.70

Shares were trading a tad lower around $90 later in the afternoon

In their first day of trading, shares of Alibaba stock opened at US$92.70 on the New York Stock Exchange on Friday, an increase of more than 35 percent over the $68 initial public offering price.

The firm raised $21.8 billion in its U.S. IPO, making it one of the largest IPOs ever. It's close to the historic $22 billion raised by the Agricultural Bank of China in 2010, and beats the $18 billion raised by Visa in 2008.

Alibaba shares didn't begin trading until at least a couple hours after the opening bell. Listed under the symbol BABA, Alibaba shares were trading slightly lower around $90 in the early afternoon.

Alibaba is an e-commerce behemoth in China, but it's looking to grow its business internationally, perhaps beyond e-commerce in the pursuit of new consumer data.

The company was founded in 1999 by Jack Ma. Two of its largest consumer shopping sites are Tmall and Taobao, though it recently opened a new online shop in the U.S. called 11Main.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesInternet-based applications and servicese-commercealibabafinancial resultssocial mediainternet

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Zach Miners

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles


GGG Evaluation Team

Kathy Cassidy


First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni


For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell


The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi


The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott


My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?