Monday, November 10, 2014

How long did it take to sell a billion dollars worth in China?

The answer will surprise you.
Alibaba, the Chinese equivalent of Amazon, continues to do very well. This statement astounded me - a billion in sales in a quarter-hour. China clearly is a massive marketplace.
"Alibaba recorded its first $1 billion in sales this "Singles' Day"* in only 17 minutes—it took about an hour last year"
*"Singles' Day—so named because the date Nov. 11 has four singles (11/11)—was started as an in-joke between university students, but has morphed into China's equivalent of Cyber Monday...When Chinese netizens celebrate not having anyone special in their lives by buying billions of dollars worth of products online"


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