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
Crackdown on counterfeiting.
From fake versions of the drugs Viagra and Xanax to phony designer watches and...
Counterfeiters From China Live Large in California
The Chinese woman has a history of selling counterfeit luxury goods. She has been...
Tobacco products seized
A special team of the Jolarpet government railway police seized nearly 18,000...
Smuggling, counterfeiting on the rise: Sanjay Kumar
Smuggling and counterfeiting-related crimes are increasing at a more rapid pace...