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Alibaba Made More Than $9 Billion on the World's Biggest Online Shopping Day

5 years ago|7 views
In the early '90s, Alibaba started Singles Day, a numerological holiday that celebrates the four 1s in the date, 11/11. Something of an anti-Valentine's day in China, the day is marked by parties and outings for single people — as well as a torrent of online shopping. This year, Singles Day was a home run for Alibaba. The Chinese ecommerce giant posted more than $9 billion in sales for the unofficial holiday considered to be the world's biggest online retail sales day.

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