While it was expected this year, the company announced today that it’s starting the process. It’s a moment that Yahoo shareholders have been salivating over for years.
Lang Lang / Reuters / Reuters
Alibaba, the Chinese e-commerce giant that is one of the hottest companies in the tech industry right now, said it has started the process of an initial public offering in the United States.
The company made the announcement in a blog post Sunday morning, which essentially kicks off one of the most highly anticipated IPOs of the year. Alibaba has been growing at a breakneck pace for the past several years, which has been revealed in quarterly earning reports from Yahoo, which owns a significant percentage of the company's shares.
"This will make us a more global company and enhance the company's transparency," the company wrote in a blog post.
Much of the excitement around Yahoo as a company — and its run-up in value — has been attributed to the rise of Alibaba. While it has been selling off small chunks of its stake, Yahoo still owns a rather large percentage of Alibaba shares. With Alibaba's IPO expected to value the company at more than $100 billion, Yahoo shareholders will soon reap a huge payout for their patience.
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