Alibaba Plots U.S. IPO

The announcement comes after talks between the Chinese Internet giant and the Hong Kong stock exchange fell through, the media outlet noted.

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Alibaba is valued at $70 billion, and as such, its entrance into the market could mark the biggest tech initial public offering (IPO) since Facebook. For more on how Alibaba’s IPO compares to that of U.S. social giant Twitter, click here.