The Alibaba Group doesn’t want to make the same missteps as Facebook in its upcoming initial public offering, which may be the biggest in U.S. history.
阿里巴巴（Alibaba Group）的上市可能成为美国有史以来最大的一宗IPO，但它并不希望重蹈Facebook的覆辙。
The Chinese e-commerce company may price its IPO about 22% lower than analyst valuations, making the total offering worth about $154 billion, according to an average estimate of five analysts surveyed by Bloomberg.
据彭博社（Bloomberg）对五位分析师进行调研后给出的平均估算结果显示，这家中国电子商务公司的IPO估值可能会比分析师之前预估的低22%左右，总值大约为1,540亿美元。
Alibaba hopes that the lowered price will help it avoid the snafu that went down with Facebook’s public offering in 2012, reported Bloomberg News.
彭博新闻称，阿里巴巴希望通过调低估值，以避免遭遇Facebook在2012年上市后那样的混乱局面。
Without the discount, the same analysts value the post-listing company at $198 billion.
未调低估值之前，五位分析师对阿里巴巴上市之后的估值为1,980亿美元。
Facebook priced its IPO at $104 billion, and then lost nearly half its market value on its debut as investors fretted about slowing growth and a lacking mobile strategy. The stock has since recovered and now trades 75% above its offering price.
Facebook的IPO估值为1,040亿美元，但由于投资者担心其增速放缓以及在移动战略方面的不足，Facebook上市首日市值一度被腰斩。之后，Facebook股票一路反弹，目前的交易价格比上市时上涨了75%。
Alibaba has been attracting investors interested in tapping into the surging Chinese economy and the country’s 618 million Internet users. The demand could make it the U.S.’s biggest IPO ever when it lists on the New York Stock Exchange .
阿里巴巴吸引了大批有志于从飞速发展的中国经济和6.18亿中国互联网用户市场分一杯羹的投资者。强劲的需求可能将使阿里巴巴在纽约证券交易所（New York Stock Exchange）的上市成为美国历史上规模最大的一次IPO。
However, analysts are also concerned about Alibaba’s mobile monetization. The company’s effort to attract smartphone users is pivotal to its growth strategy. Mobile transactions accounted for almost 20% of all transaction volume in the fourth quarter of 2013, according to a company filing.
但分析师对阿里巴巴的移动货币化战略也有些担忧。这家公司为吸引智能手机用户所做的努力，对于其增长策略至关重要。据资料显示，2013年第4季度，移动交易约占阿里巴巴总交易量的20%。
Alibaba has reportedly delayed its IPO listing until early September from its initial expected listing date in early August as it seeks regulatory approval from the U.S. Securities and exchange Commission.
据悉阿里巴巴已经将上市时间从最初的八月初，推迟到九月初，以获得美国证券交易委员会（U.S. Securities and exchange Commission）的审批。