Alibaba Raises $21.8B in Initial Public Offering
Alibaba going for a higher selling price just makes the continued undervaluing of Yahoo itself increasingly hilarious. At some point, I would think someone will want to buy them for all of this free money they have sitting around.  YHOO market cap : 42.3bn
  + liabilities : 3.7bn
  = 46bn (to own outright)

Meanwhile:  Cash on hand = 1.1bn
  + Other assets = 15.3bn
  + Cash from Alibaba sale = 8.3bn
  + Value of remaining Alibaba stock = 22bn
  + Value of Yahoo Japan stock = 9bn
  = 55.7bn (of value, if you can unlock it)

So simply by buying them, firing everyone and selling everything in a firesale, without even cashing those checks from advertisers, you can make $9.7bn. Seems like a sweet deal.