Alibaba’s shopping holiday that’s bigger than Black Friday and Cyber Monday combined just brought in $25 billion — this is what it looked like (BABA)

Jack Ma Nicole Kidman Alibaba Singles Day Double 11REUTERS/Aly Song

Ever since its early days as a student event in the 1990s, November 11 was called “Singles’ Day” in some parts of China; an occasion during which individuals would try and find a partner.

Now, Alibaba has dubbed it “Double 11” — a term the company has trademarked and transformed into the world’s largest shopping event. During this year’s Double 11, taking place on November 11, 2017, Alibaba sold $ 25.3 billion worth of merchandise.

Created in 2009 as an “Anti-Valentine’s Day,” the “11-11 Global Shopping Festival” is now bigger than Black Friday and Cyber Monday, combined.

Encompassing a live-broadcast gala, virtual games, and an interactive fashion show, the 24-hour event has become a global extravaganza selling everything from American sneakers to South Korean washing machines and Argentinian shrimp.

Keep reading to see how this year’s event unfolded …

Alibaba hosted a countdown gala in Shanghai that was broadcast live across China. The event was produced by David Hill, who previously worked on the Super Bowl and the Oscars.

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The 4-hour gala was held at the Mercedes-Benz Arena. Nearby, a giant screen tracked sales in real time, which, at one point, reached up to 325,000 orders a second.

Alibaba

The giant screen tracking sales was displayed in front of staff. A large number of pre-orders helped Alibaba do $ 1 billion in sales in the first two minutes.

REUTERS/Aly Song


See the rest of the story at Business Insider

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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