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Alibaba Singles' Day sales hit $12 billion in first hour

Reuters India Monday, 11 November 2019
Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles' Day shopping blitz hit 84 billion yuan ($12 billion) within the first hour, up 22% from last year's early haul of 69 billion yuan. Akin to Black Friday and Cyber Monday in the United States, Singles' Day has been promoted as a shopping fest by Alibaba Chairman and CEO Daniel Zhang since 2009, growing rapidly to become the world's biggest online sales
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News video: Alibaba's Singles' Day Sales Hit $13 Billion In First Hour

Alibaba's Singles' Day Sales Hit $13 Billion In First Hour 00:40

In China, Singles' Day is akin to Black Friday and Cyber Monday in the US. Also known as “Double Eleven”, the festival’s name originates from the calendar date 11/11, with the four ones referencing being single. Alibaba Group Holding Inc said on Monday that sales for its annual shopping blitz...

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