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Alibaba’s Shopping Event Sets New Record, Unsurprisingly

By Juro Osawa
· · Source: The Information

Alibaba Group’s annual Nov. 11 Singles Day shopping festival, China’s equivalent of Black Friday and Cyber Monday combined, generated more sales than last year, according to the company. As of early Monday evening, the total volume of transactions handled by the e-commerce giant’s marketplaces had topped $31 billion with more than six hours left to go. When the day ended, the company said in a ...

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