Alibaba is not a name you've probably heard unless you're a big fan of Disney's Aladdin. That's about to change, though, as the Chinese tech giant is preparing for its IPO. And that IPO is going to take place on the New York Stock Exchange.
Through 2012 the NASDAQ was known for 19 years as the place for tech IPOs. Last year that changed as the New York Stock Exchange had more tech IPOs than the NASDAQ. While Facebook may have stuck with tradition, Twitter and social game maker King bucked that trend.
With Alibaba, however, something even more important is about to happen. The NYSE is about to be the host of the worlds largest IPO. Valued at almost $170 billion, the 12% of stock the company is expected to make public could raise them $20 billion. That would put them above both Facebook and Visa.
Obviously this is big news for the NYSE in a time when tech companies are once again looking for public funding. The exchange has also shown a lot more success in recent months then its competitor. Alibaba and the NYSE do have a bigger challenge ahead of them than some of the other recent tech IPOs. For example the company is not as well-known as the likes of Facebook and Twitter here in the West. In the East however they are THE brand. A little PayPal, a little Google and a lot of Amazon, the company traded nearly $300 Billion worth of merchandise in 2013. That is over two and a half times what Amazon did in the same time period.
If you're interested in stocks, this IPO, scheduled for August, could certainly be one to watch.