Goshen News, Goshen, IN

Business

May 7, 2014

China's Alibaba seeks blockbuster IPO in US

SAN FRANCISCO — Alibaba Group, the king of e-commerce in China, is dangling a deal that could turn into one of the biggest IPOs in history.

In a long-awaited move Tuesday, Alibaba filed for an initial public offering of stock in the U.S. that could surpass the $16 billion that Facebook and its early investors raised in the social networking company's IPO two years ago.

Alibaba's paperwork says it will raise at least $1 billion, but finance professionals believe that is a notional figure to get the IPO process rolling and say that the Chinese company's ambitions for the share sale are much richer.

"This is going to be the granddaddy of all IPOs," predicted Sam Hamadeh, CEO of PrivCo, which researches privately held corporations.

Although it's not well-known in the United States, Alibaba is an e-commerce powerhouse that makes more money than Amazon.com Inc. and eBay Inc. combined. It has helped drive the rise of e-commerce in China, a transformation that has given millions of households greater access to clothes, books and consumer electronics in a society that in the 1980s still required ration tickets for some supermarket items.

Shopping online has become even more popular as smartphones give more Chinese easy access to a computer. Alibaba's launch of an online payment system, Alipay, filled the gap for the shoppers who lacked credit cards. Still growing at an explosive rate, online shopping is forecast by consulting firm McKinsey to triple from 2011 levels to $400 billion a year by 2015.

Alibaba is also expanding at a rapid clip as its network of online services, including Taobao, Tmall and Alipay mine a Chinese Internet market that already has 618 million Web surfers, roughly twice the size of the U.S. population. Taobao is an online shopping bazaar similar to eBay while Tmall serves as an online outlet for brands sold by major retailers.

Text Only
Business
  • BIZ GN140801 eby ford image 02 Eby Ford renovates showroom and more GOSHEN — The remodeled and expanded Eby Ford, Lincoln, Mercury dealership was celebrated Thursday night during an open house and ribbon cutting. “Without our awesome customers, we wouldn’t be here,” said owner Todd Eby as he addressed the crowd of fr

    July 31, 2014 2 Photos

  • Economy GDP-3 [Duplicate] U.S. economy heating up First quarter growth hits 4 percent

    July 30, 2014 2 Photos

  • BIZ GN0731 soapy gnome image 02 Soapy Gnome offers sustainable skin-care products GOSHEN — You can smell the fragrant products in the Soapy Gnome shop before you get to the front door. Tucked in a walkdown storefront at East Lincoln Avenue, at 111B, Jenny Frech and her husband Jeremy Friesen recently moved the store to the locati

    July 30, 2014 2 Photos

  • BIZ GN0730 Growing kids daycare image New day care center will open in August GOSHEN — There’s a Main Street in downtown Goshen and now there’s another, shorter Main Street in Goshen. The new road is located inside the new Growing Kids Learning Center.The newly-built center is located at Elkhart Road and C.R. 17. The day care

    July 30, 2014 1 Photo

  • Digital Life Review Amazon Phone-9 [Duplicate] Amazon Fire breaks ground for phones NEW YORK — What I find fascinating about Amazon’s Fire phone isn’t the gizmos such as the 3-D imagery or the camera scanner that helps you get more information about products.Rather, I like that Amazon is thinking a lot about how phones ought to work

    July 28, 2014 5 Photos

  • News and South Bend Tribune reach delivery agreement GOSHEN — The Goshen News announced today it has reached an agreement with the South Bend Tribune to have its newspaper carriers deliver the Goshen News in Elkhart, LaGrange and Kosciusko counties. According to Publisher Ron Smith, the agreement will

    July 28, 2014

  • BIZ GN140727 urban gypsy image Crafters open Urban Gypsy & Co in Goshen GOSHEN — A shop filled with colorful and fragrant items along East Lincoln Avenue has become part of the growing arts and artisan culture in the city.Urban Gypsy & Co. is at 111 E. Lincoln Ave.Missy Wrathell, Elkhart, and McKenzie Beiler and Kristin

    July 27, 2014 1 Photo

  • PicPlayPost: App to create dynamic collages If you have a smartphone, you’ve likely seen and used various photo collage apps that allow you to add multiple photos that are then combined into one image collage. There are many to choose from and they all work about the same.PicPlayPost is differ

    July 27, 2014

  • Fast Food Workers Convention-3 [Duplicate] Fast food workers push wage hike CHICAGO — Fast food workers say they’re prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers are expected to discuss the future of the ef

    July 25, 2014 1 Photo

  • Supreme Industries reports improved quarter GOSHEN — Supreme Industries Inc. reported Thursday its second quarter sales and income were up. The company, which makes specialized commercial vehicles, reported its consolidated net sales from continuing operations grew to $71.6 million in the seco

    July 24, 2014

Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
AP Video
Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction Malaysian PM: Stop Fighting in Ukraine Cantor Warns of Instability, Terror in Farewell Ravens' Ray Rice: 'I Made a Huge Mistake' Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN
Poll

Classes at Goshen Community Schools and St. John the Evangelist Catholic School will begin the 2014-15 school year on Thursday, Aug. 7. School corporations throughout the state have been trending toward earlier start dates the past few years. When do you think school should start?

I think early August is a good time to start
I think later in August would be a good time to start
I think school should start after Labor Day
     View Results