Alibaba valuation approaches US$100 billion ahead of possible IPO

The value of Alibaba Group continues to be an object of speculation after profit at the mainland's biggest e-commerce company more than doubled in the quarter that ended December 31.

Privately held Alibaba posted a net profit of US$642.17 million in the period, up from US$236.91 million a year earlier, according to a United States regulatory filing made by Yahoo. Yahoo owns 24 per cent of Alibaba.

Revenue at Hangzhou-based Alibaba climbed to US$1.84 billion in the quarter to December, up from US$1.02 billion a year ago.

via Business feed http://www.scmp.com/business/companies/article/1233260/alibaba-valuation-approaches-us100-billion-ahead-possible-ipo