Chinese Internet giant Alibaba has officially filed for an IPO. The $1 billion fundraising target that Alibaba gives is just a place-holder, and it will likely be raising much more, according to New York Times reporter Michael de la Merced.
Revenue for nine months ending March 31 2013 was $6.5 billion, which is up 57% year-over-year. Net income over that same period was $2.9 billion, which is up 305% year-over-year.
Alibaba is a Chinese e-commerce company with several businesses, including Taobao, a site similar to eBay, and Tmall, an e-commerce site for brands and retailers.
Here are some important numbers you should know:
- Founder and executive chairman Jack Ma owns an 8.9% stake in the company
- Gross merchandise volume (GMV) was $248 billion in 2013
- It has 231 million annual active buyers, who make 11.3 billion orders per year
- In the fourth quarter of 2013, 19.7% of its GMV came from mobile, up from 7.4% the year before
- 76.2% of total mobile retail GMV in China came from Alibaba sites
- Alibaba had 20,884 full-time employees as of December 2013 (most of them in China)
Credit Suisse is the lead underwriter, along with Deutsche Bank, Goldman Sachs, J.P. Morgan, and Citigroup.
Here is a table summary of Alibaba's financial performance (click to enlarge):
The company also created several infographics to explain how it works and its scale (click to enlarge):
SEE ALSO: The Remarkable Story Of How Alibaba Defeated eBay In China