Alibaba increases valuation to $130 billion before IPO
Chinese e-commerce giant Alibaba increased its valuation to $130 billion in an amended filing with the Securities and Exchange Commission, less than a month from the company’s initial public offering.
Alibaba, which processed more transactions by volume last year than EBay and Amazon combined, added $13 billion in valuation from its initial SEC filing in June.
Analysts predict that Alibaba could raise between $15 billion to $20 billion when it begins trading and could be poised to break Facebook’s $16-billion record IPO in 2012.
In another amended filing in June, the company reported $8.45 billion in total revenue and profits of $3.76 billion.
Alibaba -- 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 company processes about 80% of all Chinese e-commerce transactions.
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