Alibaba has officially become the largest public offering in history, according to a report from Reuters.
The IPO was always going to be a blockbuster, but thanks to high demand which rocketed the stock up another 38% after its $21.8 billion opening, underwriters exercised an option to sell another 48 million shares. The sale means that Alibaba raked in $25 billion in its public offering, beating the previous record held by the Chinese banking behemoth, the Agricultural Bank of China, which raised $22.1 billion when it listed on the Hong Kong Stock Exchange in 2010.
So… Everyone’s a winner with the Alibaba IPO, with underwriters alone netting more than $300 million from the deal.
The question is what does Alibaba do with all that paper?
All VCs want to do is take its money. And Alibaba has been on a spending spree of late, throwing roughly $1.45 billion into…
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