Alibaba Group Holding Ltd – ADR (NYSE:BABA) shares are trading lower by 1.6% at $210.49 following a Wall Street Journal article detailing how Alibaba fell victim to a large data leak over an eight month period.
The article states how “a software developer scraped 1.1 billion pieces of user data, including IDs and phone numbers, over eight months.”
Alibaba is the world’s largest online and mobile commerce company, measured by GMV (CNY 6.6 trillion/$1 trillion for the fiscal year ended March 2020). It operates China’s most-visited online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer).
Alibaba’s China commerce retail division accounted for 69% of revenue in the December 2020 quarter, with Taobao generating revenue through advertising and other merchant data services and Tmall deriving revenue from commission fees.
