I’ve blogged recently about the missing killer app for procurement.
And here is news of Alibaba’s IPO on the Hong Kong Stock Exchange, raising $1.5bn (apparently the 2nd biggest internet IPO after Google).
Is this it? Or will it be?
Browing Alibaba’s message boards today, the hot topics are pretty basic ones: “how do I know this is a legitimate supplier?”, “how do I know this is a serious buyer?”. Given that the basic point of the site is to put buyers in touch with (Chinese) suppliers, the fact that these questions are such hot topics seems to somewhat undermine the whole point of the site. And having worked with people who have used Alibaba the word is that you get a lot of quantity there, but the quality is more debatable.
Still, with an extra $1.5bn sloshing around, who can say what will happen next.
Very worth watching.
(p.s. following on from my last post, Alibaba.com’s Alexa ranking is 164 which rains all over even Salesforce.com’s parade)