Alibaba vs. Google: Showdown in Asia?

On Tuesday, Alibaba.com, the second-biggest Internet company in Asia just behind Yahoo Japan, debuted on the Hong Kong stock market to spectacular demand. In a matter of hours, the e-commerce site's stock tripled in price and immediately chatter began.

Some analysts called the stock overpriced, while a few media reports compared Alibaba to another hot tech company -- Google.

During its IPO, Alibaba.com sold 858.9 million shares and raised $1.5 billion. It was the biggest IPO by a Chinese Internet company and roughly matches Google's $1.66 billion debut in 2004.

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- Posted: 2007-11-07 10:39:27

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