Alibaba Raises $25 Billion in IPO

Chinese firm Alibaba’s $25 billion public debut is the largest in history, making Alibaba founder and executive chairman Jack Ma, who ranks #14 on this year’s Counselor Power 50 list, the richest person in China.

Through its burgeoning platforms, with a new focus on mobile, analysts believe Alibaba will continue to win market share in China and globally. The company had 279 million active buyers at the close of the June quarter, a 50% rise from a year earlier. The number of Alibaba’s monthly mobile users, meanwhile, increased 15% over the prior three months to 188 million. For the quarter ended in June, Alibaba’s revenues jumped 46% to $2.54 billion.

Through a variety of recent acquisitions, Alibaba appears ready to expand further into the U.S., first targeting consumer sales. A stronger move into the B2B space is possible, as already sells thousands of promotional products – although to date Alibaba has not released specific segment sales.