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Alibaba's 'Single's Day' bigger than Black Friday

 

 

 

Alibaba Group , the largest e-commerce company in China, surpassed more than $2 billion in sales volume processed through payments app Alipay within the first hour and 11 seconds of Nov. 11.

 

Alibaba, which heavily promotes Single’s Day, expects to make 50 billion yuan, or a record $8.2 billion, from this day in 2014. Industry tracker IDC thinks Alibaba will easily surpass that.

 

 

 

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