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Technology Stocks : Alibaba Group Holding Limited
BABA 177.62+1.8%Dec 8 8:04 PM ESTNews

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From: Paul Senior11/11/2017 8:26:33 PM
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I participated in SingleS Day by placing orders today with several retailers operating from Alibaba website.

Alibaba has set another Single’s Day record after the e-commerce giant sold over $25 billion of product on the Chinese biggest online shopping date.The full number comes in at 163.8 billion RMB, that’s roughly $25.3 billion, in GMV — that’s “gross merchandise volume” which is used to measure a dollar value for all sales on a platform. In Alibaba’s case, that predominantly means its Taobao marketplace and Tmall brand store although it does offer sales via its international services and it ships worldwide. All told, Alibaba handled 1.48 Billion transactions during the 24-hour period.That represents an impressive 39 percent increase on last year’s sales total of RMB 120.7 billion ($17.79 billion), and it comes nicely on the heels of another blockbuster quarter in which Alibaba’s revenue surged by 61 percent thanks to its core business in China.


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