$82 million for alibaba.com

Filed in archive Venture Capital on February 18, 2004

When did you raise $82 million last time? Probably a while ago, but alibaba.com just announced a big institutional semi-IPO. China-based Alibaba.com has been profitable for a while now and produces good cash-flow. I'm not sure what they will do with all that money, but obviously there are many other markets to conquer...

" Beijing, 17 February 2004 -- Alibaba.com Corporation announced today that it has raised US$82 million from institutional investors in the largest private equity commitment ever in the Chinese internet sector. The funds will allow Alibaba to continue its rapid expansion and to consolidate its position as China's largest e-commerce company.

The investors are SOFTBANK CORP., the venture arm of Fidelity Investments, Granite Global Ventures and Venture TDF Technology Group. SOFTBANK, Fidelity and TDF have been investors in Alibaba for the past four years. Granite, a Silicon Valley-based firm, joins as a new investor. The financings were led by SOFTBANK, which remains Alibaba's second largest investor, after the management and employee shareholders of the company."