Alibaba Singles' Day sale racks up $23 billion in first 9 hours

12:10:00 PM, Monday 11th of November 2019 | in business

Chinese e-commerce giant Alibaba Group Holding declared on Monday that it collected $23 billion in the first nine hours of Singles' Day sale. 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. The festival's name originates from the calendar date Nov. 11, with the four ones of 11/11 signifying being single.