- Jul 30, 2021
As per an official announcement of Alibaba Group Holding Limited (NYSE: BABA), the firm generated about US$12 billion of GMV (Gross Merchandise Volume) in the inceptive 2 hours of 11.11 Global Shopping Festival of 2017. The festival hosted over 140,000 brands, and experienced tremendous success, according to the stats.
The annual shopping festival began in China today at midnight. In the first 121 seconds, $1 billion or RMB 6.6 billion was settled via Alipay. Within the first hour, the Alibaba Cloud processed about 325,000 orders per second, and Alipay did the same for 256,000 transactions per second!
That one hour saw over 60 brands each generating over $15.1 million or RMB 100 million. The brands include the industry leaders such as Apple, Samsung, Nike, L’Oreal, Estee Lauder, Uniqlo, Gap, Zara, and much more.
During the time leading up to the festival, Alibaba’s third annual gala was hosted for celebrating the festival’s official launch. The gala could be caught up with by the viewers live through Tmall, Youku, and Taobao apps, and of course, YouTube.
In China, it was covered by Shenzhen TV, Beijing TV, and Zhejiang TV. This year would see the gala housing the celebrity appearances and performances from the likes of Nicole Kidman, Pharrell Williams, Jessie J, Maria Sharapova, and others.
Did you catch up with the gala online? Were you one of the participants? Share your experience in the comments section! Be with us to get more enticing latest tech updates happening across the world.