Jack Ma, Peng Lei, and a team of sixteen other partners co-founded Alibaba (NYSE: BABA)in 1999 and would go on to shape and dominate China's online retail market in the years that followed. The company was eventually taken public in September 2014, setting a record for the world's largest ever initial public offering (IPO) with a roughly $230 billion valuation for the company at market close.
Today, Alibaba has a market capitalization of roughly $500 billion, and the strength of its online-retail network, momentum in Chinese e-commerce, and expansion into high-reward categories like artificial intelligence suggest that the company still has numerous avenues to growth.3 Stocks That Could Put Alibaba's Returns to Shame
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