In the end, investors are likely to be pleased by the firm's willingness to embrace transparency (if not necessarily shareholder empowerment). However, three questions remain unanswered. One is about demand for Alibaba shares and their price. Analysts speculate that the flotation could raise some $20 billion, and value the firm at over $150 billion. Another is which exchange in New York will win the coveted flotation. The Nasdaq may be the more natural home for technology shares, but given how the exchange botched Facebook's flotation the current betting is that the New York Stock Exchange may come out on top.