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Yahoo! Inc. Message Board

  • oracleofny oracleofny Nov 18, 2013 10:24 AM Flag

    "Singles Day" in China: Alibaba Frenzy...

    Alibaba reported astounding sales on Singles’ Day, which occurs on November 11 every year and is now China’s Cyber Monday.

    Alibaba said it sold RMB 35 billion, or $5.7 billion, goods that day, a 83% year-on-year growth compared to 2012′s RMB 19.2 billion, doubling the growth rate of the entire e-Commerce in the third quarter, and almost half of the entire size of the e-commerce market in the third quarter.

    Sentiment: Strong Buy

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