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China's Alibaba spent $160m fighting fake goods
December 24th, 2014
 
 79921607 alibaba1
Alibaba says costumer complaints on fakes have fallen by 22% from last year
 
Chinese e-commerce giant Alibaba says it has spent more than $160m (£103m) fighting fake goods on its websites from the beginning of 2013 to November of this year.
 
The company will add another 200 people next year to the 2,000 workers tackling counterfeit goods on its sites.
 
That is in addition to the 5,400 volunteers who are already involved in its daily online surveillance plan.
 
The prevalence of fake goods in China is still a big problem.
 
Before its record-setting $25bn listing in New York, the world's largest e-commerce company had said in its IPO prospectus that counterfeits goods could hurt its ability to win customers, investors and US retail partners.
 
In comparison, US e-commerce site eBay said in a court filing in 2010 that it spends up to $20m a year on "buyer protection programs" such as reimbursing buyers for fake goods bought on its site.
 
BBC News. Retrieved from: http://www.bbc.com/news/business-3059515