Remember being spun around, pin in hand, and being told to attach the tail to the donkey? Anyone trying to value Alibaba will recall those sensations: dizziness, inability to see, and reliance on guesswork. The Chinese e-commerce giant has yet to choose a stock market venue but that does nothing to diminish its status as the world’s hottest big listing-in-waiting. Most polls of analysts give Alibaba a market capitalisation above $100bn and, increasingly, north of $150bn. Pricing a company where so little information is available is more like a party game than a serious exercise.
还记得转到晕头之后，手里拿着大头针，蒙着眼给毛驴贴上尾巴的游戏吗？给阿里巴巴(Alibaba)估值，便能重拾这样的感觉：眩晕、看不清、全靠猜。这家manbetx3.0 电商巨头尚未选定上市地点，但这不影响它作为世界头号待上市大企业的地位。对大多数分析师的调查显示，他们为阿里巴巴给出的估值都在1000亿美元以上，越来越多的调查甚至估值超过1500亿美元。为一家信息披露甚少的公司估值，更像是派对游戏而不是严肃的计算。