Jack Ma’s US inspiration set path to Alibaba IPO
Alibaba’s IPO can also make founder Jack Ma the 1/3-wealthiest guy in China And it all began with a visit to Seattle and a search for the phrase ‘beer’ THE on line international opened to billionaire Jack Ma (above) , founder of Alibaba Group Holding Ltd, on his first ride to the United States in 1995. While traveling a chum in Seattle who showed him the Internet, Ma typed the phrase ‘beer’ and couldn’t locate any Chinese information. He decided to restore it. Almost 20 years later, Alibaba is China’s biggest on-line retailer, and Ma’s US-stimulated brainchild is readying for an preliminary public offering in New York that might boost as tons as US$20 billion, doubtlessly making it the most important IPO there ever. The valuation may make the forty nine-12 months-antique entrepreneur the third-wealthiest in China, with US$12.five billion, and one of the one hundred richest international in the Bloomberg Billionaires Index. The IPO will represent the crowning feat of Ma’s ...