Alibaba’s Singles’ Day event breaks records
Chinese etailer Alibaba’s Singles’ Day shopping event registered record-breaking sales for the 11th consecutive year.
The 24-hour online shopping event – this year launched by pop star Taylor Swift – made more than $30.8bn (£23bn) in sales in 16.5 hours.
The Chinese online giant, founded by Jack Ma, hit $1bn in sales in just over a minute of trading during the one-day event.
Alibaba invented the sales event in 2009 to encourage single people to buy a gift for themselves as a tongue-in-cheek anti-Valentine’s Day.
The sale is now the biggest online event exceeding last year’s Black Friday and Cyber Monday sales combined.
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