The company was founded in 1999 in Hangzhou, China, but didn't gain widespread recognition in the U.S. until its blockbuster initial public offering in September 2014. It was the largest IPO ever on U.S. markets, raising $25 billion, with shares priced at 68. Alibaba stock in the past 12 months is up more than 60%. Shares jumped another 3%, surging past a buy point of 201.60, and were near 204.40 at midday Friday on the stock market today.