Alibaba went public today and the Chinese e-commerce giant reportedly raised $21.8 billion—the biggest initial public offering ever in United States history.
The company is valued at at least $168 billion. When it began trading on the New York Stock Exchange on Friday, shares jumped 36 percent from $68 a share to $92.70 a share.
Alibaba, which is China's largest internet venture, claims a complicated portfolio of different companies centered around a lucrative online market place where companies can sell products directly to customers. Think Amazon meets eBay with UPS and FedEx thrown in.
Robert Armstrong, head of the Lex column at The Financial Times, weighs in on the company's future.