Alibaba's Singles' Day generates $3.9 billion in GMV in first hour

(Reuters) - Ecommerce giant Alibaba Group Holding Ltd said it generated more than $3.9 billion in gross merchandise volume(GMV) within the first hour of its China's Singles' Day sale. Alibaba said nearly 130 million users visited its mobile online marketplace app, Taobao, exceeding the peak volume recorded in 2014 in the hours leading up to the event. Mobile GMV settled through Alipay accounted for 72 percent of total GMV, the company added.