One of the largest stores on the internet is preparing for its stock market debut.

Massive Chinese retailer and wholesaler AliBaba has confirmed it will aim for a launch on the US stock exchange, snubbing the Hong Kong and London equivalents.

“AliBaba Group has decided to commence the process of an initial public offering in the United States,” the company said in a statement today.

“This will make us a more global company and enhance the company's transparency, as well as allow the company to continue to pursue our long-term vision and ideals.”

Insiders estimate the listing will be worth around $10 billion, but with the recent high watermarks set by the float of Facebook and Twitter, it is virtually impossible to tell where the figure may begin and where it may end when the excitement is over.

AliBaba had intended to make its initial public offering (IPO or float) on the Hong Kong Stock Exchange, but negotiations broke down over concerns raised by the Exchange over the odd management structure within the online marketplace.

AliBaba founder Jack Ma and some hard-to-pin-down senior management figures are known to exert control over the official board of directors, a situation that the Hong Kong market did not appreciate.

“We respect the viewpoints and policies of Hong Kong and will continue to pay close attention to, and support the process of innovation and development of, Hong Kong,” Alibaba's statement said.

“Should circumstances permit in the future, we will be constructive toward extending our public status in the China capital market in order to share our growth with the people of China.”

Some authorities say AliBaba is making a run for the free market while it still has a strong lead over competitors, with a number of alternatives to its services gaining ground every week.

Research firm Euromonitor has reportedly estimated China's internet retail market will triple its value from 2012 to 2018 to over than $300 billion.