Dive Brief:

• E-commerce site and search engine company Alibaba has chosen the U.S. over Hong Kong for its long-awaited IPO, the company said Monday. The retail giant is in talks with six banks to handle the IPO, for which they will garner significant fees.

• The Hangzhous, China, company is estimated to be worth some $140 billion and its IPO gains could top $15 billion. Filings for the action could begin as early as next month.

• Alibaba’s various marketplaces buy and sell more products than eBay and Amazon together.

Dive Insight:

Alibaba is widely regarded as the Chinese Google, but it is also a retail giant, handling more goods than eBay and Amazon together. Both those American companies are facing increased competition from Alibaba, which, apart from its IPO, is making moves to gain more of the U.S. market and others outside China, where it dominates. It stands to reason that an e-commerce titan would gain as e-commerce grows; the question when it comes to Alibaba is — how much?