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
$750,000 Worth of Fake iPhones & Other Devices were Seized in Ireland
Police in Northern Ireland shut down a major counterfeiting operation this...
Smuggler who stashed £12,000 in kitchen bin jailed after being caught with 40,000 illicit cigarettes
A serial smuggler who tried to stash £12,000 in a bin when tax inspectors came...
Lack of awareness helps counterfeits
Lack of awareness helps counterfeits Lack of consumer awareness is one of the...
Jeweller Pandora takes fight to counterfeiters
Danish jewellery company Pandora has chalked up a victory in its long-running war...