Jack Ma, center, founder of Alibaba, raises a ceremonial mallet before striking a bell during the company's IPO at the New York Stock Exchange. (Photo: AP/Mark Lennihan)
Alibaba debuted as a publicly traded company and swiftly climbed nearly 40 percent in a mammoth IPO that offered eager investors seemingly unlimited potential for growth and a way to tap into the burgeoning Chinese middle class. The e-commerce company's initial public offering was on track to be the world's largest, with the possibility of raising as much as $25 billion. "We want to be bigger than Wal-Mart," CEO Jack Ma told CNBC. [Full Story]
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