You have no doubt heard about Alibaba's IPO being the second largest web-based IPO since Google's in 2004. Google raised $1.5 billion while reports claim that Alibaba raised $1.5 billion. This is great news for Yahoo as Yahoo (YHOO) owns a 39% stake in Alibaba.
"Yahoo shares are up on anticipation of a very successful Alibaba.com IPO," said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York. "That will help Yahoo in a big way.
More on Alibaba's initial public offering.
Labels: Alibaba IPO, yahoo