Natalie Parkinson
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​Alibaba overtakes Amazon as most highly valued online retailer

Alibaba Group Holding Ltd. is knocking Inc. off its perch as the world’s largest online retailer by market capitalization, signaling the ascendance of a global rival for investor and consumer dollars.

Alibaba begins trading on the New York Stock Exchange today after pricing its initial public offering yesterday at $68 a share, putting the Hangzhou, China-based company’s valuation at $167.6 billion. That exceeds Amazon’s market capitalization of $150.2 billion, as of its closing price in New York yesterday of $325.