Alibaba's initial public offering later this year will mark the end of an era, as well as the beginning of a new regime on the global tech landscape.
The three Chinese Internet giants Baidu, Alibaba and Tencent—known as BAT—are the big tech companies born out of the PC era, said David Chao, co-founder and general partner of DCM. The e-commerce powerhouse Alibaba, which is the most profitable of the three, will be the last of the group to go public.
"In the future, when we look back at the event people will say that was the closure of the BAT era," said Chao. "It's also a beginning. It's about China surpassing the U.S. economy. It is a beginning of realization that Chinese Internet companies are just as big and as valuable as U.S. ones."