A group of 27 top executives and investors in Alibaba Group Holding Ltd (IPO-BABA.N), including co-founder Jack Ma, can appoint another two directors to the company's board once it goes public, according to a U.S. regulatory filing on Friday.The move would expand the Chinese e-commerce company's board to 11 members from nine and give Ma's group control over the majority of Alibaba's board after its initial public offering on the New York Stock Exchange later this year.In an updated prospectus filed with the U.S. Securities and Exchange Commission, Alibaba also provided a more detailed explanation of its controversial decision in 2011 to spin out its Alipay payments service.Alibaba is expected to execute what could be the largest U.S. technology IPO in history. The company powers four-fifths of all online commerce conducted in China, the world's second-largest economy, and handled more transactions last year than Amazon.com Inc and eBay Inc combined.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN traded higher by 5.57% or $18.28/share to $346.20. In the past year, the shares have traded as low as $279.33 and as high as $408.06. On average, 4219690 shares of AMZN exchange hands on a given day and today's volume is recorded at 8299248.
eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY traded higher by 2.31% or $1.165/share to $51.50. In the past year, the shares have traded as low as $48.06 and as high as $59.70. On average, 12097400 shares of EBAY exchange hands on a given day and today's volume is recorded at 13868829.
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