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| Version 2 | Version 3 |
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| Alibaba files for public share sale | Alibaba files for public share sale |
| (about 5 hours later) | |
| Chinese internet giant Alibaba has filed documents for a public share sale in the US, which is widely expected to be one of the biggest in history. | Chinese internet giant Alibaba has filed documents for a public share sale in the US, which is widely expected to be one of the biggest in history. |
| In its filing, the company said it was seeking to raise $1bn (£589m). But that figure is seen just as an estimate to calculate various fees. | |
| Analysts expect it to raise more than $15bn and top Facebook's share sale. | Analysts expect it to raise more than $15bn and top Facebook's share sale. |
| Alibaba did not disclose details of the number of shares it intends to sell or their price range. | Alibaba did not disclose details of the number of shares it intends to sell or their price range. |
| It also did not reveal which US exchange - the Nasdaq or New York Stock Exchange - it is looking to list its shares on. | It also did not reveal which US exchange - the Nasdaq or New York Stock Exchange - it is looking to list its shares on. |
| Smartphone growth | |
| Founded 15 years ago by Jack Ma, the firm has been a dominant force in e-commerce in China and is now the biggest online retailer in the country. | Founded 15 years ago by Jack Ma, the firm has been a dominant force in e-commerce in China and is now the biggest online retailer in the country. |
| While it has been a key player in the sector for many years, its filing gave investors the first glimpse at the firm's finances. | While it has been a key player in the sector for many years, its filing gave investors the first glimpse at the firm's finances. |
| The firm generated revenues of 40.5bn yuan ($6.5bn; £3.8bn) in the nine months to the end of December 2013, making a net profit of $2.9bn. | The firm generated revenues of 40.5bn yuan ($6.5bn; £3.8bn) in the nine months to the end of December 2013, making a net profit of $2.9bn. |
| The documents reveal that last year, the value of all merchandise sold on Alibaba's various platforms was $248bn, with more than 11.3 billion orders placed. | The documents reveal that last year, the value of all merchandise sold on Alibaba's various platforms was $248bn, with more than 11.3 billion orders placed. |
| The total value of merchandise sold on its platforms last year was more than that sold on Amazon and eBay combined. | |
| In a nod to the importance of smartphones, the firm said it was responsible for 72% of mobile commerce in China. | In a nod to the importance of smartphones, the firm said it was responsible for 72% of mobile commerce in China. |
| That is important as Alibaba has been locked in competition recently with rival Tencent - China's largest internet firm - to attract mobile shoppers. | |
| Analysts said there was likely to be keen interest in the share sale as investors hope the firm will be able to replicate its success in China on a global scale. | Analysts said there was likely to be keen interest in the share sale as investors hope the firm will be able to replicate its success in China on a global scale. |
| "If it is able to transport that kind of power to outside China, it has the potential to become a true global e-commerce powerhouse," said Roger Entner, lead analyst and founder of Recon Analytics. | "If it is able to transport that kind of power to outside China, it has the potential to become a true global e-commerce powerhouse," said Roger Entner, lead analyst and founder of Recon Analytics. |
| Windfall? | Windfall? |
| Among the major shareholders set to benefit from the listing are US technology giant Yahoo and Japan's Softbank. | Among the major shareholders set to benefit from the listing are US technology giant Yahoo and Japan's Softbank. |
| Yahoo owns a 22.6% stake in the firm, while Softbank owns 34% of the company. | Yahoo owns a 22.6% stake in the firm, while Softbank owns 34% of the company. |
| Yahoo had paid $1bn for a 40% stake in Alibaba in 2005. | Yahoo had paid $1bn for a 40% stake in Alibaba in 2005. |
| It sold half of that stake back to Alibaba in May 2012 for $7.1bn. That deal saw the Chinese firm pay Yahoo $6.3bn in cash and up to $800m in Alibaba's preferred stock. | It sold half of that stake back to Alibaba in May 2012 for $7.1bn. That deal saw the Chinese firm pay Yahoo $6.3bn in cash and up to $800m in Alibaba's preferred stock. |
| According to an agreement between the two firms, Yahoo has to either sell a part of its remaining stake in Alibaba back to the Chinese firm ahead of the share sale, or include its shares in those being sold to investors. | According to an agreement between the two firms, Yahoo has to either sell a part of its remaining stake in Alibaba back to the Chinese firm ahead of the share sale, or include its shares in those being sold to investors. |
| SoftBank will continue to own more than 30% stake in Alibaba after the listing. | SoftBank will continue to own more than 30% stake in Alibaba after the listing. |
| Alibaba's various other operations include a cloud computing business and a group buying website. | Alibaba's various other operations include a cloud computing business and a group buying website. |
| Its online payments processing network, Alipay, was spun off in 2011 and is not a part of the listing. | Its online payments processing network, Alipay, was spun off in 2011 and is not a part of the listing. |
| The filing with the Securities and Exchange Commission is just the first step in what is expected to be a process that will take several months before Alibaba's stock listing. |