Alibaba Just Had The Biggest IPO In History

Alibaba, the leading company in China’s ecommerce industry, opened at $92.70 a share on the New York Stock Exchange today, making it the biggest public offering in U.S. history. This is hardly surprising to anyone who knows the company, as it is the most popular destination for online shopping in China, the fastest growing ecommerce market in the world. At more than $92.50 per share, Alibaba’s market cap is hovering around $228 billion, which makes it larger than Facebook, IBM, and its American counterpart Amazon.