With its IPO, Alibaba Group Holding Limited (NYSE:BABA), created more than a splash in New York when its shares opened way above their initial price of $68 at above $90 mark throughout the day. For a Chinese company to have made such a mark in an American market, the event was indeed history being created, as rightly remarked by Leslie Picker, the Bloomberg News Reporter.
Some of the other experts on the panel also made noteworthy observations wherein Brian Blair, an analyst with Rosenblatt Securities, labeled it as the SuperBowl of IPO and had plenty of words of praise for CEO and founder Jack Ma. He called it a watershed moment in the history of corporate China wherein Alibaba Group Holding Limited (NYSE:BABA) had just paved the way for other entrepreneurs to follow.
Jeff Papp of Oberweis Asset Management attributed its success to high property prices in China and Sam Hamadeh, CEO and founder of Privco Media felt it was because the company enjoys a monopoly in the Oriental country. Experts also emphasized that China as a country has transformed over the last 20 years and Jack Ma enjoys a ‘long leash’ where the Chinese Government is concerned which in itself is a major plus point.
Another interesting aspect that was discussed pertained to the possibility of partnership between Alibaba Group Holding Limited (NYSE:BABA) and Amazon.com Inc (NASDAQ:AMZN). In the words of Jack Ma, the most famous entrepreneur in the world today –
“I would be interested in talking because as always, anything, anybody that involves helping small business we will feel excited.”
While the statement in itself could have multiple interpretations, grapevine has it that this Chinese English teacher who had founded the company in 1999 is today busy shaking hands with well known names, Amazon.com Inc (NASDAQ:AMZN) founder being one of them.
That said, as companies, Alibaba Group Holding Limited (NYSE:BABA) and Amazon.com Inc (NASDAQ:AMZN) are unique in their own ways and this difference could play an instrumental role in deciding the fate of the joint venture. Jack Ma having expressed his thoughts, Amazon.com Inc (NASDAQ:AMZN) spokesperson is yet to express the company’s take on the subject.
This article has been written by Vinita Basu.