Shares of Chinese e-commerce site Alibaba-dot-com shot up 193 percent in the company’s first day of trading in Hong Kong, valuing the Internet firm at around $25.7 billion. Alibaba raised about $1.5 billion in the IPO, ranking it second only to Google in top e-commerce debuts. Yahoo! owns about 40 percent of Alibaba’s parent company. (MarketWatch)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Road trip: New England’s maple syrup seasonFeature New England is serving up maple syrup in delicious and unexpected ways
-
Music Reviews: Mdou Moctar, Panda Bear, and Tate McRaeFeature “Tears of Injustice,” “Sinister Grift,” and “So Close to What”
-
What's at stake in the Mahmoud Khalil deportation fight?Talking Points Vague accusations and First Amendment concerns
