|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Alibaba Rakes In $11.9 Billion in Two Hours on Singles Day

BEIJING – Alibaba recorded sales of $11.9 billion during the first two hours of Singles Day, the grand online shopping festival in China, the company said on Saturday.

The 24-hour event, which began at midnight, is this year set to break all sales records from previous editions.

In the first two hours of the operations, sales to the tune of 78.8 billion yuan ($11.9 billion) were generated, Alibaba said in a statement.

The company added that its servers processed up to 325,000 purchase orders per minute during peak demand.

In last year’s edition, total sales amounted to some 120.75 billion yuan (around $18.24 billion at the current exchange rate).

Singles Day or Double 11 – held on the eleventh day of the eleventh month (Nov. 11) – is a huge sensation in China, and over the years it has recorded the highest volume of sales over the internet in the world.

Sales on this day are 2.5 times those of the combined sales on “Black Friday” and “Cyber Monday,” the days on which businesses in the United States make their most attractive offers.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved