Alibaba Prepares to Complete
Largest-Ever Public Share Offering
Alibaba Group Holding Ltd., China's largest e-commerce company, announced it will offer 320.1 million American depositary shares priced between $60 and $66, making it the largest ever U.S. public offering. Below, a timeline of events that led to the company's explosive growth in China.
Alibaba Grows as
China's Middle Class,
E-Commerce Booms
China's emergence as an export powerhouse has created a burgeoning middle class that's driving sales at Alibaba. By 2070, more than 70 percent of China's population could be considered middle class and could consume almost $10 trillion in goods and services.
Analysts say the growing number of Internet users - more than 850 million Chinese are expected to be online by next year - is one driver of the e-commerce site's explosive growth.
Sources: Alibaba Group, China Internet Network Information Center, World Bank, Bloomberg reporting