Alibaba posts record breaking $25.3bn sales for 2017 Singles Day extravaganza

Alibaba has once again broken its records for its annual 11.11 Singles Day e-commerce extravaganza posting sales of $25.3bn (RMB168.2bn).
The record figures for sales across Alibaba’s Tmall and Taobao channels were up 39% compared to 2016’s event, which posted US$17.8 bn (RMB120.7bn).
This year’s event, which centered around a major gala entertainment event which was attended by The Drum, saw $1bn (RMB6.6bn) of gross merchandise volume (GMV) settled through Alipay in the first