BIZCHINA / Company Events
Alibaba targets search market, eyes IPO
(Reuters)
Updated: 2006-05-18 09:07
China's Alibaba.com, whose biggest shareholder is Yahoo Inc, aims to hold
an initial public offering, but has no timetable yet for listing its
shares, chairman and founder Jack Ma said on Wednesday.
Ma, who is an outspoken Chinese Internet pioneer rarely given to
understatement, said his ambition, a decade from now, is to make his
company one of the world's top three most powerful Internet companies and
a Global Fortune 500 company.
"Like GE, Microsoft or IBM, we want to make Alibaba a company that can
last long and influence people," Ma told an audience of Wall Street
investors, analysts and news media at Yahoo's annual analyst day briefing
in San Francisco.
"I think we will be a public company," Ma said but backed away from
offering any specific schedule. "Now there is so many things we need to
do," he said, adding as an aside that, "We have to fix Yahoo first, be
the No. 1 search engine."
Ma said he wants to introduce a new version of Yahoo search technology in
September. Market researchers say Yahoo is a distant No. 3 in the Chinese
market, behind market leader Baidu Inc., with roughly half the market,
and Google Inc. .
Yahoo invested $1 billion in Alibaba.com last August in return for a 40
percent stake.
(For more biz stories, please visit Industry Updates)
Most Popular Stories in 48 Hours
� Luxury cars are big boys' toys
� Full speed ahead for Shanghai express
� Godfather of information industry
� Individual gold transactions in China brisk
� China closes over 2,600 enterprises
Today's Top News
� Official: SCO not an eastern version of NATO
� 9.5 million sit college exam this year
� Malformed baby has third arm removed
� Over 60% of land use in China illegal
� Doctors remove third arm from boy
Top Biz News
� Overeas investors bullish on property
� Most powerful heavy ion accelerator to be completed
� China's oil imports from Iran up 25% in 1st quarter
� Nuke fusion reactor gives a headstart
� China, Arab nations sign action plan
Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.
Learn Chinese
No comments:
Post a Comment