It has come a long way since that initial, brutal battle with eBay in China, but those early years shaped what Alibaba has become.

It has come a long way since that initial, brutal battle with eBay in China, but those early years shaped what Alibaba has become.

EBAY). to "underperform" from "hold," citing slowing advertising revenue, increased marketing spending, and risks from a slowdown in China as factors likely to weigh on the company's profit growth.