Ahead of what is expected to be a blockbuster initial public offering this year, Chinese Internet giant
In the amended filing Monday with the
Alibaba -- known as an e-commerce behemoth that also has interests in banking, maps, cloud computing, music, and TV and film production -- had 255 million active buyers as of March 31.
The Hangzhou company said in its original prospectus last month that it was raising $1 billion, but that number is a place holder and could rise -- to possibly more than Facebook's $16-billion IPO -- depending on investor demand.
Alibaba, bigger than
Alibaba's partnership has the right to nominate a simple majority of the company's nine-member board of directors. The provision was one of the main reasons Alibaba opted to go public in the U.S. and not in Hong Kong.
The company said the number of partners in Alibaba Partnership is not fixed and may change from time to time. It said all partnership votes are made on a one-partner-one-vote basis.
The filing didn't specify how many shares Alibaba would sell, whether it would list on the
Founded in 1999, Alibaba operates Taobao, Alibaba's biggest website and China's largest consumer-to-consumer online shopping platform, and Tmall, China's largest third-party platform for brands and retailers.
The company was founded by a group of 18 people, led by Ma, a former English teacher from Hangzhou, a city near Shanghai.
Japan's SoftBank has a 34% share; Yahoo was an early investor and still owns about a quarter of the company.
Alibaba said in Monday's filing that SoftBank and Yahoo would agree to vote their shares in favor of the Alibaba Partnership director nominees at each annual general shareholders meeting.