Alibaba Group finally filed with the U.S. Securities and Exchange Commission to go public in the U.S. to raise up to $1 billion of funding. Alibaba also runs China’s largest payment processor Alipay, which is not part of this IPO. Alibaba stated to buy back its stake held by Yahoo since 2011 and the latter now owned a 22.6% stake in Alibaba. Alibaba wavered between Hong Kong and the U.S. market for a long time and rumors regarding the matter ensued. The company finally settled on launching IPO in the U.S. market in May this year, among many factors, one reason that drive Alibaba to choose U.S. market is HKSE does not support dual-class stock structure.