Incredible Alibaba IPO and financial facts: According to Chairman Jack Ma, $BABA only reaches / has on platform 40% of the Mainland Chinese consumer base. We need more, he told 60 Minutes. There are an estimated 300 million mainland Chinese who make middle income salaries of up to $60,000 / year. In 2005, Mas company only made a symbolic $1 profit. Now his yearly profit is in the billions. Alibabas finance arm has just been granted regulatory approval to create its own bank. Alibaba just invested $459 million in a hotel listings and reservations company (look out Priceline, Kayak, Hotels Tonight, Travelocity). They are in talks right now to open a Hong Kong version of their own Money Market fund, meaning Alipay users can put their money into the product, which invests in funds. There is no minimum amount, and customers can withdraw their cash anytime. This makes Alipay / Alibaba into a money printer, virtually, for many of the e-commerce users of the platform. What facts do you know? Would you invest in this IPO? Did you?
Posted on: Mon, 29 Sep 2014 02:34:49 +0000
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