For those who don't know, November 11th is what is known as "Single's Day" in China. It is supposed to serve as almost an anti-Valentine's Day, in which bachelors and bachelorettes get to celebrate being single.
Alibaba revealed that it was contacted by the Securities and Exchange Commission earlier this year after it came to light that the company had been talking to China's State Administration for Industry and Commerce regarding sales of counterfeit goods. The company failed to disclose this information on in its IPO prospectus prior to going public last year.
Can not understand how an unprofitable Chinese online dating application Momo (MOMO) backed and managed by Alibaba (BABA) achieved its IPO in USA and it is valued over USD3 Billion last December 2014.