Chinese e-commerce giant Alibaba has officially filed with the Securities and Exchange Commission to raise $1 billion in an initial public offering. The road to Alibaba’s IPO started in December 1998 in a Hangzhou apartment, when the Alibaba online marketplace was founded by entrepreneur Jack Ma and 17 other founders as a business-to-business trading platform. It began with a reported initial investment of $60,000 — today, some analysts estimate it might raise as much as $20 billion.
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