China's Alibaba Group is aiming to raise $1 billion in a long-awaited IPO likely to have ripple effects across the Internet.
Tuesday's filing sets the stage for the technology industry's biggest initial public offering since short messaging service Twitter and its early investors collected $1.8 billion in its stock market debut last fall.
Alibaba is the parent company of Chico based Auctiva.
For now, Alibaba isn't specifying how much stock will be sold in the IPO or setting a price range. Those details will emerge as the IPO progresses, a process likely to take three to four months to complete before Alibaba's shares begin trading on the New York Stock Exchange.
Although it's not nearly as well-known as Facebook Inc., Alibaba has emerged as an e-commerce powerhouse that makes more money than Amazon.com Inc. and eBay Inc. combined.
- Updated Evacuations ordered due to fire burning in Hawkinsville and Yreka
- Updated Soaring costs of EpiPens have victims of allergies worried
- Updated Orlando hospitals won't bill survivors of Pulse nightclub shooting
- Updated 12 killed in Kabul university attack
- Heroin laced with elephant tranquilizer hits the streets