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Alibaba's Singles' Day sales hits $13 billion in the first hour — up 32% from 2018

singles dayVCG via Getty Images

Alibaba kicked off Singles' Day — its massive global shopping event — to the tune of $13 billion in the first hour, an increase of 32% from 2018. To celebrate the start of the annual event, Taylor Swift joined local artists for a performance at the Singles' Day opening gala in Shanghai.  Visit Business Insider's homepage for more stories.

SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles' Day shopping blitz hit 91.2 billion yuan ($13 billion) within the first hour, up 32% from last year's early haul of 69 billion yuan.

Akin to Black Friday and Cyber Monday in the United States, Singles' Day has been promoted as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing rapidly to become the world's biggest online sales event.

See the rest of the story at Business Insider

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