Chinese e-commerce giant Alibaba appears to be ready for its debut.
Weeks before Jack Ma’s Chinese online sales giant launches one of the most hyped IPOs since Facebook’s, the technology company has offered a fresh glimpse of its financial results in IPO paperwork updated today with US regulators.
In a nutshell, the update illustrates Alibaba’s meteoric growth in mobile revenue. Here are some takeaways from the data, as of June 30:
Mobile revenues more than doubled from 1.1 billion renminbi ($189 million) to 2.45 billion renminbi.
Revenues from mobile sales have become one the company’s biggest growth drivers, accounting for 20% of total revenues.
Since the end of 2013, Alibaba’s tally of monthly users on its mobile platforms has grown by roughly 38%.
Alibaba’s early mobile success bodes well for marketing its upcoming IPO, which will likely begin the first week of September. Investors tuning into the 14-day global blitz may be heartened to find that Alibaba is more skillfully harnessing mobile than did Facebook before it went public.