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Alibaba sets Singles' Day sales record

Published 11/11/2018, 03:59 AM
© Reuters.  Alibaba sets Singles' Day sales record
  • Alibaba (NYSE:BABA) has settled 168.2B yuan ($24.3B) in sales in 16 hours of its annual Singles’ Day extravaganza, surpassing the total GMV netted during last year's event.
  • In the past few years, Singles' Day has exceeded the transaction volume of both Black Friday and Cyber Monday combined. The event has also far surpassed Amazon's (NASDAQ:AMZN) Prime Day, which is the most similar to Singles' Day because it is also a 24-hour, online shopping event.
  • Update: Alibaba has clocked in sales of $30.8B in the 24-hour span, representing a nearly 27% rise Y/Y.
  • Now read: Bulletproof Investing Performance Update: Week 49


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