Alibaba Files IPO in the US

Chinese Internet giant Alibaba Group Holding Ltd. officially filed plans to offer shares in the US in a deal that would value the company at more than $100 billion, confirming the scale of its e-commerce operations ahead of what is expected to be one of the largest stock listings in history. The filing showed that Alibaba is growing quickly and is very profitable, but the 2,300-page document didn't include some key information, such as the revenue for Alibaba's main marketplaces, how much the company makes from advertising or who will serve as the company's new directors after the IPO.