Alibaba Plans IPO Inc., operator of China's largest B2B website, has begun preparations for a $1 billion IPO, according to the official China Securities Journal. The offering would occur later this quarter in Hong Kong, with Morgan Stanley serving as lead underwriter. has raised around $107 million in total VC funding, including an $82 million Series D round in early 2004 at a $182 million post-money valuation. Shareholders include Fidelity Investments, Goldman Sachs, Granite Global Ventures, Softbank China VC, Investor AB, Transpac Capital and Venture TDF.