Finance & Economics

Alibaba’s 11.11 Global Shopping Festival generates $12B profit

Global sale brings profitable achievements

Alibaba Group

Alibaba’s 11.11 Global Shopping Festival generates $12 billion profit. Source:

Alibaba GHL today kicked off the 2019 11.11 Global Shopping Festival at midnight in China. Gross Merchandise Volume, settled through Alipay, reached $1.0 billion in the first minute and eight seconds.

Global Sale 2019 brings $12 billion. Source:

In the first hour, GMV settled through Alipay reached $12.0 billion. Alibaba’s video streaming platform Youku hosted the 5th annual countdown gala, which included interactive performances from Taylor Swift and other international and domestic celebrities in the hours leading up to the shopping event. In general, the gala was broadcast live across nearly 30 platforms and TV channels.


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