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As Alibaba IPO Date Nears, Counterfeiters Told to Knock It Off
As the Alibaba IPO date approaches, the company is racing to resolve an issue with counterfeit products on its site that threatens to undermine investor confidence.
Compared to a few years ago, Alibaba has made a major effort to weed out listings of knockoff products and go after the groups selling them. Last year alone Alibaba removed 100 million listings of fakes suspected to violate intellectual property rules, and the company now spends $16.1 million each year to fight the problem.
As the Alibaba IPO date approaches, the company is racing to resolve an issue with counterfeit products on its site that threatens to undermine investor confidence.
Compared to a few years ago, Alibaba has made a major effort to weed out listings of knockoff products and go after the groups selling them. Last year alone Alibaba removed 100 million listings of fakes suspected to violate intellectual property rules, and the company now spends $16.1 million each year to fight the problem.