Chinese e-commerce giant Alibaba is set to float on the New York Stock Exchange on Friday in what is expected to be the biggest IPO of all time.
Alibaba looks likely to raise more than $20 billion, having increased its target price range to between $66 and $68 a share.
The company remains relatively unknown in the United States, despite processing more sales per year than Amazon and eBay put together.
It owns China's largest shopping website, Taobao, runs the online payment system Alipay, and has made strategic investments in a number of Californian companies including ride-sharing firm Lyft.
Silicon Valley analyst Tim Bajarin (PRON: Ba-hare-in) says the future is bright for the world's largest internet and e-commerce firm.
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OUT: "…continue to grow."
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Internet corporation Yahoo owns a 22.6% stake in Alibaba.
The investment it made in 2005 now promises to be extremely lucrative for a company that's struggled to win investor confidence in recent years.
E-commerce expert Tim Bajarin (PRON: Ba-hare-in), President of Creative Strategies, says the cash infusion comes at a good time.
IN: "Marissa Meyer has..."
OUT: "…business even further."
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