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Financial News: Alibaba selling Weibo

Financial News:

Alibaba selling Weibo

Daniel Zhang Yong

Alibaba may sell its 30% share in social media ad provider Weibo to state-owned Shanghai Media. Alibaba down 1% in premarket trading, while Weibo was down 0.3%.

Alibaba's first public offering (IPO) on the New York Stock Exchange raised $25 billion on September 19, 2014, giving the business a market value of $231 billion and making it the largest IPO in global history at the time.

Photo: Daniel Zhang Yong is a Chinese technology executive. He is currently the CEO of Alibaba Group. Before becoming the CEO, Zhang was best known for his roles as CEO of Taobao and president of Tmall.

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Content ID: 1640785078 Created Wednesday, December 29, 2021 1:37 PM UTC by Aaron Stipkovich, Updated Wednesday, December 29, 2021 1:47 PM UTC by Aaron Stipkovich.