Alibaba, JD.com report booming Singles Day sales

Alibaba, JD.com report booming Singles Day sales

Alibaba says merchants on its platforms sold $12 billion worth of goods in the first hour of Singles Day. Alibaba and rival JD.com reported a total of nearly $50 billion in sales by midmorning Monday. The 11/11 event, which began as a joke holiday in the 1990s as an alternative to Valentine’s Day, was adopted by Alibaba a decade ago as a marketing tool.

Simone
Simone
Top in Tech
Get the App