Alibaba Surges on Massive Demand in Trading Debut
Alibaba Group Holding Ltd.'s shares surged in their first day of trading on Friday as investors jumped at the chance to get in on what looks likely to be the largest IPO in history and profit from China's growing middle class.
It was an auspicious debut for the company, founded by Jack Ma in his apartment in 1999, which now accounts for 80 percent of online sales in China.
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