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Underwriters exercised an option to sell an additional 48 million shares, according to a source.
Friday’s closing price gave Alibaba a market value of $231 billion, exceeding the combined market capitalizations of Amazon and eBay.
Cost to the company: $62 million and climbing.
Boosting its presence in the cloud.
Too expensive to compete in a rapidly changing market.
The move will include an exit from business-to-consumer operations in some regions.
A “platform of piracy” led by a “cynical management,” says News Corp. CEO Robert Thomson.
Sales in the digital media business came in low, too.
TriZetto provides IT services, including care management and the administration of benefits.
Microsoft will unveil a $2.5 billion deal to buy its owner on Monday, according to a source.