Friday, September 08, 2006

No Alibaba IPO Soon

From Reuters:

"Jack Ma, Alibaba's founder and chairman, .. told Reuters at the China Century Summit that he has frozen plans to go public because he wants to focus on building the business rather than on financials. He said Alibaba will roll out a new service in the next month but declined to give details.

"We still need to do a lot of things and we only have two investors and they don't push me," the wire-thin executive said at the Reuters office in Beijing. "With an IPO ... I don't think investors will listen to me."

"Ma, who aims to build Alibaba into one of the world's top three most powerful Internet companies in the coming decade, wants a global listing when Alibaba finally does pull the trigger on an IPO."


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