Amazon Has Growing Problem of Third-Party Counterfeiters

In the “risk factors” section of its annual report, e-commerce leader Amazon listed counterfeit products, stating that the company may be “unable to prevent sellers in our stores or through other stores from selling unlawful, counterfeit, pirated, or stolen goods, selling goods in an unlawful or unethical manner … or otherwise violating our policies.” This is a first for the tech giant, which had never discussed the ongoing problem. In principle, it has a “zero tolerance” policy but the site is full of merchants selling knockoffs. Continue reading Amazon Has Growing Problem of Third-Party Counterfeiters

WeChat Adds Luxury Brands, Competes With Alibaba, Baidu

China’s most popular messaging app WeChat is drawing in luxury fashion brands. France’s Longchamp and U.K.’s Burberry are selling clothes and purses there, and LVMH brands Givenchy and Dior are conducting flash sales on the app. By hosting upscale retail, WeChat owner Tencent Holdings has put itself in competition with Alibaba Group Holding, China’s dominant e-commerce company, as well as search engine Baidu. All three titans are testing the waters outside their traditional businesses. Continue reading WeChat Adds Luxury Brands, Competes With Alibaba, Baidu

Alibaba Expands Alipay, Creates Media Entertainment Group

China’s Ant Financial Services Group, an affiliate of Alibaba Group Holdings, is building a global network of merchants that accept its payment services via the Alipay mobile payments app. Ant Financial just announced a partnership with the online-payments arm of Thai conglomerate Charoen Pokphand Group, meaning that Chinese tourists can use their familiar payment app there. Alibaba has also launched its new Digital Media and Entertainment Group as the company continues its push into movies, online video, music, gaming and more. Continue reading Alibaba Expands Alipay, Creates Media Entertainment Group

Alibaba’s Shopping App Mixes E-Commerce and Social Media

Alibaba is expanding beyond e-commerce into social media and entertainment with its mobile app Taobao. Founded in 2003 as a site for small businesses to sell directly to consumers, Taobao has since blossomed with social and entertainment, a “one-stop shop” paradigm that’s getting Chinese youth to spend more time on the site than visitors to Amazon and Twitter, and mobile revenue more than doubling in the most recent quarter. What helps to make the site so successful are its more than 1,000 special interest groups. Continue reading Alibaba’s Shopping App Mixes E-Commerce and Social Media

Alibaba Tests Dotless Visual Codes to Fight Counterfeit Goods

Alibaba is facing a growing problem with counterfeit goods that has led to some top brands taking legal action. The Chinese e-commerce giant is debuting a solution in the form of unique tags similar to QR codes. The company is working with Israeli startup Visualead to introduce dotless visual codes, which can be used to scan products to prove their authenticity and then automatically destroyed so they cannot be used more than once. Customers will use Alibaba’s Taobao mobile app to scan the codes when they receive their orders. Continue reading Alibaba Tests Dotless Visual Codes to Fight Counterfeit Goods

Alibaba Sets World IPO Record After its First Day of Trading

While Apple had a big weekend selling more than 10 million new iPhones, it wasn’t the only tech giant breaking records. Chinese e-commerce company Alibaba Group Holding Ltd. closed its first day of trading on Friday at $93.89 per share, a 38 percent increase from its IPO price, and the biggest first-day jump for an IPO of at least $10 billion. The IPO became the largest ever at $25 billion, after underwriters exercised a greenshoe option to increase the deal size by 15 percent based on strong demand. Continue reading Alibaba Sets World IPO Record After its First Day of Trading

Alibaba Combats Counterfeit Goods After Filing IPO Prospectus

As part of its effort to streamline the process of addressing counterfeit goods, Chinese e-commerce company Alibaba Group has begun to automatically remove from its biggest shopping site products that certain brands have deemed as fake. Alibaba’s Taobao shopping site is one of the busiest in the world, and counterfeit goods have been a concern ahead of the company’s IPO. Its expedited take-down process will initially apply to products identified by less than two dozen brands participating in the program. Continue reading Alibaba Combats Counterfeit Goods After Filing IPO Prospectus

Chinese E-Commerce Company Alibaba Files IPO in the U.S.

Alibaba, China’s largest and fastest growing e-commerce company, filed for a $1 billion IPO, which could make it one of the most valuable tech companies in the world. The company made $6.5 billion and saw a 57 percent increase in revenue in the last nine months of 2013. Alibaba handles more business than any other e-commerce company, with transactions on its three online sites — Taobao, Tmall and Alibaba.com — totaling $248 billion, which is more than eBay and Amazon combined. Continue reading Chinese E-Commerce Company Alibaba Files IPO in the U.S.