For the foreseeable future most of its growth is still going to come from China, Wolff said.
"When your country has 15 percent of the population and 500 million of those people have not been online, you can grow for some time," Wolff said.
During the past two years, the company has rolled out versions of Taobao, its consumer to consumer e-commerce marketplace, in Hong Kong and Taiwan.
Media investments seem to be big on Alibaba's radar, said Kelland Willis, an e-commerce analyst at Forrester Research.
In June, it invested $80 million in the Chinese media conglomerate 21st Century Media, and in April it sunk $1.2 billion into YokuTudou, which is China's YouTube, as well as $1.05 billion in the media group Wasu Media & Network.
"There's high demand for good content in China right now. A lot of businesses don't know how to sell in home entertainment. It's a really strong opportunity," Willis said.
The company will also likely continue to pour money into mobile investments in the region to help it to better compete with with its rival Tencent, which has a strong footing in mobile payments and mobiles messaging, analysts said.
So, what is the company looking to do with their diverse array of investments?
"We don't know yet what their top priority will be ... and we won't know until after the IPO and they start becoming more transparent with some of these plans," Daniell said. "It's all pretty unclear at this point."
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But just because we can't connect the dots doesn't mean Alibaba doesn't have a plan, said Bryan Stolle, a general partner at Mohr Davidow Ventures.
"It's always been a part of Chinese culture for thousands of years to be long term planners," Stolle said. "They aren't confused at all about what they are doing and how they are going to be doing it. They have a plan and they are working out their plan."
—By CNBC's Cadie Thompson
—Correction: This story has been updated to reflect the correct about of money Alibaba has invested in U.S. companies in the last year.