The Alibaba IPO and Other Fascinating News on the Web

TIME

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1. The Alibaba IPO

One of the most feverishly anticipated tech stock IPOs lived up to its first day hype as Alibaba raised $21 billion and passed Facebook’s market capitalization on its first trade.

+ The NYT Dealbook takes you to Hangzhou: The city that minted thousands of Internet millionaires (and launched a whole lot of other Internet startups).

+ Yahoo owns a big chunk of Alibaba stock. How big? Big enough to be worth almost as much as Yahoo itself.

+ The WSJ has an excellent interactive piece that answers the question of the day: What is Alibaba? Imagine all the Internet’s most powerful business models rolled into one and aimed at the world’s most populated markets. (Just wait until the Alibaba Watch comes out.)

2. No

“They spiked the fountains with bubble bath in anticipation of a party in what was dubbed Scotland’s Yes city

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