Alibaba Raises $21.8 Billion in Largest U.S. IPO Ever

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There's a new king of the U.S. IPO market.

The Alibaba Group sold a little more than 320 million shares at a price of $68 each, according to multiple reports. The company raised $21.8 billion from the public offering

That puts Alibaba well ahead of the $16 billion that Facebook raised from its IPO in 2012 and tops Visa $17.9 billion IPO in 2008, which held the title of largest U.S. IPO. However, it falls a little short of the Agricultural Bank of China, which raised $22.1 billion in the world's largest IPO to date.

See also: 10 Things You Should Know About Jack Ma, Founder of This Year's Biggest Tech IPO Read more...

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from MashableSeth Fiegerman