赴美上市不只是阿里巴巴的大事情

    不过，这种情况可能很快就会发生变化。据报道，阿里巴巴正寻求进军美国电子商务市场，加大对美国公司的投资。（上市之前，阿里巴巴参与了美国乘车应用Lyft募集2.5亿美元资金的计划，并分别对美国的零售网站ShopRunner和移动信息应用Tango投资2亿美元和2.15亿美元。）预计阿里巴巴将推出电子商务网站11 Main，为“消费者和精选商家搭建一个时尚、专业的商业平台。”

    目前还远远不能确定阿里巴巴能否在上述计划中取得成功。中国企业在美国市场上面临着巨大的挑战。例如，被誉为“中国版Twitter”的微博（Weibo）在美国上市时募集的资金就少于预期。由于估值低于预期，有些中国科技公司从纽约证券交易所（the New York Stock Exchange）退市。

    美国莱斯大学张延教授指出，如何管理对于透明度的关注是寻求在美国上市的中国企业面临的最大挑战之一。阿里巴巴如何管理外界对于透明度的关注以及其他投资者对阿里巴巴IPO的反应，这些将对在美国的中国企业产生重要影响。

    “这些对其他寻求在美国上市的中国企业来说非常重要，”张延说。“如果阿里巴巴上市顺利，它将鼓励其他中国企业考虑在美国上市，特别是科技企业。”

    此外，这将给美国发展放缓的整个IPO市场带来重要影响。

    “IPO市场近期表现欠佳，”辛哈说。“市场一直处于波动之中。合理定价的阿里巴巴IPO或许会为其他公司的上市奠定基础。”

    无论如何，阿里巴巴将给市场带来持久的影响。辛哈指出：“这是很长一段时间内最令人瞩目的IPO之一。”（财富中文网）

    译者：乔树静 / 汪皓

    That may soon change. Alibaba is reportedly looking to bring its e-commerce business to the U.S. and is ramping up its investments in U.S.-based companies. (Ahead of its IPO, Alibabaparticipated in a $250 million funding round for ride-sharing app Lyft, as well as investedabout $200 million in the U.S. retail site ShopRunner and $215 million in the mobile messaging app Tango.) The company is expected to launch an e-commerce site, 11 Main, "where hand-picked shop owners connect with customers in a stylish and professionally merchandised marketplace."

    It's far from certain that Alibaba will succeed in these endeavors. Chinese companies have faced significant challenges in the U.S. market; for example Weibo, China's answer to Twitter, raisedless money than it expected in its U.S. IPO. Other Chinese tech companies have delisted from the New York Stock Exchange because of lower-than-expected valuations.

    One of the largest challenges for any Chinese business seeking to go public in the U.S. is managing concerns about transparency, said Rice University's Yan. How Alibaba manages those concerns and how other investors respond to the IPO could have a major impact on Chinese businesses in the U.S.

    "It will be very important for other Chinese companies who are also considering U.S. IPOs," Yan said. "If Alibaba's IPO does well, it will encourage other Chinese companies, especially technology companies, to consider IPOs in the U.S. market."

    And it could have a big impact on the broader IPO market, which appears to be slowing down.

    "The IPO market hasn't been the best market recently," Sinha said. "The market has been volatile. Maybe the Alibaba IPO, priced correctly, paves the way for other companies to go public as well."

    Whatever happens, Alibaba will leave a lasting impact on the market, Sinha said. "This is one of the most highly anticipated IPOs in a long time."