Hangzhou, China, November 11, 2014 – Alibaba Group Holding Limited (NYSE: BABA) today announced that US$2 billion (approximately RMB 12.23 billion) was settled through Alipay on Alibaba's China and international retail marketplaces within the first hour and 12 seconds of its 11.11 shopping festival.1
Main highlights include:
Additional highlights include:
The 11.11 Shopping Festival ("11.11") began in 2009 with 27 merchant participants as a mutually beneficial event for Tmall.com merchants and consumers during the seasonal changeover, filling a major gap in the traditional offline retail calendar in China. This year, more than 27,000 brands and merchants are participating in the event, including Costco, Muji, Desigual, ASOS, and The North Face, among others. By expanding globally with the participation of AliExpress and Tmall Global, consumers in over 220 countries and regions will be able to select from more than one million products through online storefronts and e-commerce websites.
For additional content from the event, please visit the 11.11 resource page on Alizila, the Alibaba Group corporate news website, at http://www.alizila.com/1111-shopping-festival and follow @alizila on Twitter.
For updates on 11.11 transaction milestones, please visit Alibaba Group's Investor Relations website at http://www.alibabagroup.com/en/ir/home.
About Alibaba Group
Alibaba Group's mission is to make it easy to do business anywhere. The company is the largest online and mobile commerce company in the world in terms of gross merchandise volume. Founded in 1999, the company provides the fundamental technology infrastructure and marketing reach to help businesses leverage the power of the Internet to establish an online presence and conduct commerce with hundreds of millions of consumers and other businesses.
Alibaba Group's major businesses include:
Alibaba Group also provides payment and/or escrow services on its marketplaces through its contractual arrangements with Ant Financial Services Group, a related company of Alibaba Group that operates Alipay (www.alipay.com).
Through China Smart Logistics (or Zhejiang Cainiao Supply Chain Management Co., Ltd.), a 48%-owned affiliate, Alibaba Group operates a central logistics information system that connects a network of express delivery companies in China.
1 All 2014 11.11 GMV figures are subject to final auditing following conclusion of the event.