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Alibaba market value tops Facebook after latest public relations crisis: Chart
[HONG KONG] Facebook Inc crises this year have weighed heavily on the social-media giant, dragging shares down more than 37 per cent from their July peak and erasing nearly US$240 billion in value.
The fall has allowed Chinese Internet behemoth Alibaba Group Holding Ltd to once again overtake Facebook in market capitalisation.
It's the second time this year Alibaba has topped its US rival, the first coming in March following revelations surrounding Cambridge Analytica, the consulting firm that obtained data on Facebook users without their consent.