Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

4/16/2014 (2 years ago)

Catholic Online (www.catholic.org)

Gigantic e-commerce site has more revenue than Amazon and eBay - combined

Ali Baba for those in the west usually means the storybook leader of a gang of fearless, 40 thieves. But this will soon change. A massive e-commerce site from China, Alibaba, with revenue larger than Amazon and eBay combined has decided to go public in the United States.

Yahoo's dominance has since dwindled as Alibaba has since grown into a global powerhouse.

Yahoo's dominance has since dwindled as Alibaba has since grown into a global powerhouse.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

4/16/2014 (2 years ago)

Published in Technology

Keywords: Alibaba, China, e-commerce, public offering


LOS ANGELES, CA (Catholic Online) - The announcement comes after long speculation that it would list in Hong Kong. Alibaba could raise up to $15 billion at an estimated valuation of up to $200 billion.

"We expect it to be the largest tech IPO ever, the largest IPO of the year, the largest Chinese IPO of the year," Max Wolff, chief economist and strategist at Citizen VC says. "It's a big number, probably a record-breaker by any metric."

Check out our fine selection of Bibles -- by going here!

The public offering comes as part of a wave of Chinese companies going public in the U.S. this year. Twitter-like platform Weibo is set to begin trading on the NASDAQ on Thursday and Alibaba rival JD.com filed for a $1.5-billion listing in January.

The announcement has brought ample investor interest that swirled around Facebook in 2012 and Twitter in 2013.

Often compared to eBay and PayPal, Alibaba's interests are far wider. Alibaba encompasses banking, maps, cloud computing, online music service and TV and film production. The company also has a stake in Weibo, the microblogging platform that is going public in the U.S. this week.

Founded in 1999 by a group of 18 people, Alibaba is led by Jack Ma, a former English teacher from Hangzhou, a city near Shanghai. Yahoo was an early investor and still owns about a quarter of the company; Japan's SoftBank has a substantial 37 percent share.

Yahoo reported its quarterly earnings this week, revealing that revenue at Alibaba surged 66 percent, to $3.06 billion, in the fourth quarter compared with a year earlier. Its net income more than doubled to $1.36 billion.

That makes Yahoo's 24 percent stake worth $42 billion. Which is more than Yahoo's own market capitalization, according to an estimate by private company financial intelligence provider PrivCo.

"Yahoo made a huge and, in retrospect, very smart investment in Alibaba when Alibaba was very small and Yahoo wasn't," Wolff said.

Yahoo's dominance has since dwindled as Alibaba has since grown into a global powerhouse.

Going public in the U.S. has become an attractive option for Chinese companies. Stock exchanges in mainland China are struggling and subject to restrictive controls, including a 10 percent daily limit on how much a stock can gain or lose after the first day of trading.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for June 2016
Universal:
Human Solidarity: That the aged, marginalized, and those who have no one may find–even within the huge cities of the world–opportunities for encounter and solidarity.
Evangelization: Seminarians and Novices: That seminarians and men and women entering religious life may have mentors who live the joy of the Gospel and prepare them wisely for their mission.



Comments


More Technology

Evolving, emotional robot expected to be hot Christmas item Watch

Image of The Anki plays games, learns, and reacts emotionally. If it's neglected it will act out. It always wants to play.

By Marshall Connolly (CALIFORNIA NETWORK)

Just in time for Christmas, the Anki firm is releasing a robot capable of forming an emotional bond with humans. LOS ANGELES, CA (California Network) - The Anki "Cozmo" is an affable little machine that is designed to form an emotional bond with humans. The tiny rover ... continue reading


Robot equipped with artificial intelligence ESCAPES scientists for the SECOND TIME Watch

Image of AI robot escapes for a second time (CEN).

By Kenya Sinclair (CALIFORNIA NETWORK)

Promobot RI77 escaped its high-tech lab and evaded Russian scientists for the <i>second</i> time this month. LOS ANGELES, CA (Catholic Online) - Promobot, short for "promotional robot," was equipped with artificial intelligence, allowing it to learn through ... continue reading


What is a petaflop? China crushes USA in supercomputer power by a factor of 5X! Watch

Image of China now has the world's fastest computer.

By Marshall Connolly (CALIFORNIA NETWORK)

In another sign the U.S. is slipping internationally, China has unveiled the world's fastest supercomputer, that is five times more powerful that the fastest U.S. supercomputer. It is also built with all Chinese microprocessors. LOS ANGELES, CA (California Network) - ... continue reading


Robots evolving to defend themselves as people prove dangerous Watch

Image of Perhaps the most important question in robotics is how will we humans relate to these machines?

By Marshall Connolly (CALIFORNIA NETWORK)

Security robots have gone to work in a Silicon Valley mall and designers are shocked at the reactions they're getting from the public. The mixed response means the robots have to be capable of protecting themselves if needed. LOS ANGELES, CA (California Network) - On ... continue reading


Scientists discover cloud of life-giving molecules in deep space Watch

Image of Scientists have found basic molecules responsible for all life as we know it in a cloud of dust and gas in deep space.

By Marshall Connolly (CALIFORNIA NETWORK)

Scientists have discovered a mysterious molecule at the center of all life on Earth floating in interstellar space. The molecule is the famous "chiral" molecule that binds easily with other elements and forms the basis of all life as we know it. LOS ANGELES, CA ... continue reading


The robots are here! Here's how they'll change your life Watch

Image of The Knightscope robots can already fulfill most of the functions of a security guard.

By Marshall Connolly (CALIFORNIA NETWORK)

Within the next year or two, you may see your first robot workers in the first public space. Robots are now coming to parking lots, malls and other public spaces as they are readied for prime time. Soon, a robot may deliver your food, your purchases, or room service. ... continue reading


World renown scientist says he has found proof of God! We may be living the the 'Matrix' Watch

Image of Michao Kaku believes the universe is designed, and he has the proof.

By Marshall Connolly (CALIFORNIA NETWORK)

The more scientists study the universe, the closer they seem to come to God. Now, a highly respected scientist believes he has found evidence for God in his work, and says that the universe is no accident.  LOS ANGELES, CA (Catholic Online) - Michio Kaku believes ... continue reading


Scientists insert human genes into pigs to grow organs for transplant, but is it ethical? Watch

Image of Does this pig have human consciousness? It's possible if it's grown with human stem cells.

By Marshall Connolly (CALIFORNIA NETWORK)

It's a bad time to be a pig. Pigs are made of meat that humans find delicious, cultured meat is still a decade away, and now humans have learned how to grow their organs inside pig bodies. While this is good news for people who need transplants, ethical and humane ... continue reading


Every CREEP in the world, your BOSS, and your MOM will know EVERYTHING you've done as TWO BILLION cameras become facial recognition devices Watch

Image of Creepy people will be able to identify you from a photo, and then they can look you up across the web. Goodbye privacy.

By Marshall Connolly (CALIFORNIA NETWORK)

Say goodbye to your anonymity, facial recognition software is about to explode into the mainstream, allowing you to be recognized anywhere and everywhere you go. The implications of this are staggering. LOS ANGELES, CA (California Network) - For Russians, the nightmare ... continue reading


INSANE! Mad scientists invent robots that can have sex, reproduce and even evolve! Watch

Image of Will robots take over the world? They might if we do not set limits on their design and development.

By Marshall Connolly (CALIFORNIA NETWORK)

Are mad scientists trying to kill us? Researchers say they have developed robots that can mate, produce offspring and evolve as they grow and learn. LOS ANGELES, CA (California Network) - A team of Dutch scientists have developed the first robots capable of learning, ... continue reading


All Technology News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • America has become craven, that's why Satan is winning
  • 'I was a stranger and you welcomed me'
  • A Prayer for the Departed HD Video
  • First Martyrs of the See of Rome: Saint of the Day for Thursday, June ...
  • Fatima Morning Offering HD Video
  • Daily Readings for Thursday, June 30, 2016
  • 'I love you and I am crying so hard grandma': Woman honors grandmother

Daily Readings

Reading 1, Amos 7:10-17
10 Amaziah the priest of Bethel then sent word to Jeroboam king of Israel ... Read More

Psalm, Psalms 19:8, 9, 10, 11
8 The precepts of Yahweh are honest, joy for the heart; the commandment ... Read More

Gospel, Matthew 9:1-8
1 He got back in the boat, crossed the water and came to his home ... Read More

Saint of the Day

Saint of the Day for June 30th, 2016 Image

First Martyrs of the See of Rome
June 30: The holy men and women are also called the ... Read More