China Single's Day: Alibaba Records $1 Billion In 8 Minutes

Ecommerce giant Alibaba made $1 Billion of sales in 8 minutes, on china single's day, its equivalent of US black Friday.

IMAGE: CHINAFOTOPRESS/CHINAFOTOPRESS VIA GETTY IMAGEs

Alibaba’s chief executive, Daniel Zhang, before the sale said “the whole world will witness the power of Chinese consumption”
The company smashed its own record last of $9.3 Billion by raking in $14.3 Billion in 24 hours. 

The company says its expected to ship 310 million delivery orders.

Alibaba has been marketing 'Single's Day' as anti valentines day since 2009, using it to lure chinese 668 million of online shoppers in China.

China’s Singles Day surpassed US Black Friday last year to become the world’s largest shopping day.

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