By Tim McLaughlin and Ross Kerber BOSTON (Reuters) – Alibaba Group Holding Ltd has two major things going for it as it prepares for an initial public offering that could raise more than $21 billion: founder Jack Ma and a capital-lite business model. While corporate governance remains a concern, several fund managers and analysts said Ma gave an impressive performance during the companys pitch in Boston on Tuesday for what stands to be the largest-ever U.S. They also said the Chinese e-commerce companys business model features strong cash-flow generation and low capital intensity similar to U.S. Internet stars Facebook Inc and Google Inc. Hes executed well, said Will Danoff, who runs the $111 billion Contrafund for Fidelity Investments.
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