Alibaba took down 90 million counterfeit products before its IPO
The Chinese e-commerce giant spent more than $160 million in the last two years to fight fakes, a top executive says. (Bloomberg) — Alibaba Group Holding Ltd., which faced scrutiny for selling counterfeit goods on its websites, said it removed 90 million listings that may have breached intellectual-property rights. The fake product listings were taken down across Alibaba’s e-commerce platforms through September this year, Chief Risk Officer Polo Shao said at a press conference in Hangzhou today. Alibaba, which raised a record $25 billion in an initial public offering in September, said it spent $160.7 million from the beginning of 2013 through last month to block counterfeit products and boost consumer protection.
Related Posts
China quality watchdog tells Alibaba fakes threaten China’s reputation
Alibaba Group Holding Ltd must pay more attention to product quality and step up...
ICA foils three smuggling attempts in a day; seizes $177,000 in cigarettes and chewing tobacco
The Immigration and Checkpoints Authority (ICA) officers thwarted three different...
City busts gang of swindlers selling fake iPhones
Shanghai police have busted a gang who conned people by claiming to be employees...
Passenger Caught Smuggling Over $60K Inside Bag of Sanitary Pads
U.S. Customs and Border Protection (CBP) officers at Detroit Metropolitan Airport...