Alibaba raises its valuation to $130 billion

New York -- Chinese e-commerce giant Alibaba increased its valuation to $130 billion less than a month before its initial public offering on the New York Stock Exchange.



The new figure is approximately $13 billion more than the company valued itself at in its original filing with the Securities and Exchange Commission in June.



Alibaba is expected to raise more than $20 billion, which would make it one of the largest offerings ever.