Alibaba's not going to say it has zero faith in the Nasdaq following its not so great handling of the Facebook IPO but it's not not going to say it has zero faith in the Nasdaq following its not so great handling of the Facebook IPO.
...two sources familiar with the situation said Alibaba executives worried about Nasdaq’s ability to handle their $21 billion initial public offering later this month, since the exchange botched Facebook’s market debut two years ago. Nasdaq tried to persuade Alibaba that it had fixed the problem, the sources said, but it is not clear whether they were swayed. One of the sources said that Alibaba eventually was satisfied that Nasdaq had solved the issue and chose NYSE because its overall pitch was better. The other said Nasdaq executives believed that Alibaba decided that the possibility of a botched IPO, however small, outweighed the possible benefits of being in the index. Alibaba and NYSE declined to comment, while a spokesman for Nasdaq, which has repeatedly said it has fixed the issues that went wrong in the Facebook IPO, said “It was a close race, and we wish Alibaba well.”