Alibaba Makes More Than $14B on China's Fake 'Singles' Day' - NBC4 Washington

Alibaba Makes More Than $14B on China's Fake 'Singles' Day'



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    Jack Ma, executive chairman of the Alibaba Group, gestures during a press conference with the Pac-12 in Hangzhou in eastern China's Zhejiang province Tuesday, Nov. 10, 2015.

    The retail website Alibaba brought up $14 billion in sales on the made-up Chinese holiday "Singles' Day," the company said on Thursday.

    This year's sales were 60 percent higher than last year. 

    Six years ago, Alibaba turned Nov. 11 into China's equivalent of United States shopping event Cyber Monday. It has now become larger than both Cyber Monday and Black Friday combined, and a closely watched barometer of the company's performance.