Alibaba Boasts Its IPO With 618M Users and $5.55 Bln in Annual Revenue.
Chinese e-commerce giant Alibaba, has finally finalized its filing for its US IPO/ The company has reported a massive 618 million users and $5.55 billion in revenue during the fiscal year of 2013, which ran all the way through March 31.
According to the information found on the filing, Alibaba is seeking to raise a total of up to $1 billion, though that figure could be changed as the IPO date reaches its deadline. In fact, Alibaba’s public offering has been expected to become one of the largest tech IPO up to date.
Alibaba boasts itself as the “largest online and mobile commerce company within the world” inits Form F-1. I had over $248 million in gross merchandise volume (GMV) in calender 2013 from its three retail marketplaces, Tmall, Taobao, and Juhuasuan.
The firm has reported a total of $1.74 billion in income from operations and $1.39 billion in net income for the fiscal year of 2013, and just for 2013 alone. Alibaba’s revenue numbers for 2014 have so far been even much better. During the first nine months of fiscal year 2014, its managed to bring in a total of $6.5 billion in revenue and $3.13 billion in income operations.
While the initial draft of the F-1 has officially made it public, Alibaba’s IPO is still a currently mobile target, as many of the financial specifics for the listing have as of yet to be filled out.
2014 seems to be the year for Chinese tech companies to finally break out and show that they can stand along side giant tech companies based on the West. Furthermore, to Alibaba’s hyped up IPO, Sina’s Weibo microblogging platform has also gone public in the U.S.