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Alibaba confirms it will begin IPO Process in US

The company, headquartered in Hangzhou, could command the largest initial public offering of stock ever.
The company, headquartered in Hangzhou, could command the largest initial public offering of stock ever.Associated Press/File 2012

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Alibaba Group, China’s online commerce giant, confirmed Sunday that it plans to begin the process of becoming a public company in the United States.

In a post on its corporate blog, the company said it aims to be listed on a US stock market to become “a more global company.”

The blog post highlights that the company is on its way toward setting up its long-awaited initial public offering, one that could set records as the biggest ever. Among China’s burgeoning contingent of Internet titans, Alibaba is unique — part eBay, part Google, part PayPal.

Its IPO could eventually raise more than the $16 billion Facebook reaped in its public debut nearly two years ago. Analysts speculate that the company could fetch a valuation well north of $130 billion.

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