China’s Alibaba Group is becoming a serious threat to Amazon.
The e-commerce giant made its market debut Friday in one of the largest public offerings of all time. The IPO was priced at $US68 per share, giving Alibaba an initial market value of about $US168 billion. That exceeds Amazon’s market capitalisation of $US150 billion, as of its closing price Thursday of $US325.
Alibaba’s websites account for 80% of all online commerce in China and its sales are growing rapidly. But its revenues are still only a fraction of Amazon’s.
Here’s a brief breakdown of the two companies and how they compare from the website SmartIntern. (It was made before the IPO.)
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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