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Singles Day is singular triumph for Alibaba
Of all the celebrants of China’s annual “Singles Day” Nov. 11 holiday, Alibaba Group Holding Ltd. was probably the happiest.
By midnight Nov. 11 China time (which is ahead of all U.S. time zones), Alibaba estimated it had settled about $14.34 billion in gross merchandise volume (GMV) through its Alipay payment platform on its China and international retail marketplaces.