Alibaba goes after U.S. IPO after ditching Hong Kong option
Alibaba's new CEO Lu Zhaoxi (C) attends an event to mark the 10th anniversary of China's most popular online shopping destination Taobao Marketplace in Hangzhou on May 10, 2013.
Alibaba, often described as the Amazon.com of China, wants to sell stock to the public. This morning, there's news that the company's negotiations to file for an initial public offering on the Hong Kong exchange have broken down. Now Alibaba is gearing up to do its IPO in New York instead.
The BBC's Linda Yueh joins Marketplace Morning Report host David Branaccio to discuss.
Click the audio player above to hear more.