In a video prepared by Alibaba executives for potential investors, the company's genesis is described as one to help small, Chinese wholesalers compete with global players.
With Alibaba's massive initial public offering coming down the pike, the company's own global ambitions are becoming more apparent—even in the structure of the deal. (Watch the video here.)
Alibaba disclosed Friday its plans to sell 320 million shares at up to $66 apiece. While the size of the offering has been arranged for some time, people familiar with the deal said, the portion of new shares to be issued by the company is higher than originally planned.
The reason is simple: More proceeds will go to the company's coffers instead of those of investors like Yahoo, which bought a 40 percent stake in Alibaba in 2005 for a then-paltry $1 billion. Yahoo previously told investors it would sell up to 208 million shares, but that number in the most recent filing decreased to roughly 122 million shares.