Alibaba 11.11 Mega sale breaks $17.79 billion in GMV

Alibaba, China's biggest e-commerce company, raked in $5 billion in the first hour alone on November 11, or Single's Day, the China's version of Black Friday.

Alibaba 11.11 Mega sale breaks $17.79 billion in GMV

 After generating RMB 120.7 billion ($17.79 billion) in gross merchandise volume in just 24 hours, the 2016 11.11 Global Shopping Festival, the world’s largest one-day online sale, has come to a close. That figure represents a 32 percent jump over the RMB 91.2 billion in transactions that played out over Alibaba’s e-commerce platforms—mostly on B2C […]