Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Alibaba Group Holding    BABA

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Alibaba : Generated Nearly US$12 Billion of GMV in the First Two Hours of the 2017 11.11 Global Shopping Festival

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 09:19pm CET

Alibaba Group Holding Limited (NYSE: BABA) announced that it generated nearly US$12 billion of gross merchandise volume (GMV) settled through Alipay in the first two hours of the 2017 11.11 Global Shopping Festival, which saw participation from more than 140,000 brands.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171110005671/en/

Mercedes-Benz Arena in Shanghai (Photo: Business Wire)

Mercedes-Benz Arena in Shanghai (Photo: Business Wire)

The annual shopping festival kicked off today at midnight in China. Early highlights of this year’s 11.11 Global Shopping Festival included:

  • US$1 billion (RMB6.6 billion) of total GMV was settled through Alipay in the first 2 minutes and 1 second
  • US$11.9 billion (RMB78.8 billion) of total GMV was settled through Alipay in the first 2 hours, and mobile GMV settled through Alipay accounted for 91% of total GMV
  • Alibaba Cloud processed 325,000 orders per second at peak within the first hour
  • Alipay processed 256,000 payment transactions per second at peak within the first hour
  • In the first hour, more than 60 brands each generated more than RMB100 million (US$15.1 million), including leading international brands Apple, Estée Lauder, Gap, L’Oreal, Nike, Samsung, Uniqlo and Zara, among others

Annual 11.11 Gala

In the hours leading up to the shopping event, Alibaba hosted its third annual gala to celebrate the official launch of the festival. Viewers were able to experience the gala live via Youku, the Tmall and Taobao mobile apps, YouTube, as well as across China through Zhejiang TV, Beijing TV and Shenzhen TV. This year, the gala featured celebrity appearances and performances from Pharrell Williams, Nicole Kidman, Maria Sharapova and Jessie J, among others.

For additional content from the event, please follow the Alibaba Group official Twitter account at www.twitter.com/AlibabaGroup, or visit the Media Resources page on Alibaba corporate news site Alizila with background, factsheets and content related to this year's 11.11.

About the 11.11 Global Shopping Festival

The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness of the value in online shopping. Last year, nearly 100,000 merchants participated in the global shopping event, with consumers spending USD 17.8 billion (RMB 120.7 billion) during the 24-hour period. For additional history and facts from last year’s festival, as well as the latest news and updates on the 2017 11.11 Global Shopping Festival, please visit Alizila: http://www.alizila.com.

About Alibaba Group

Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.

_____________________

1 GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba's China retail marketplaces and AliExpress within a 24-hour period on November 11. It is reported on a real-time basis and includes shipping charges paid (where applicable). Transactions related to international brands, defined as brands created outside of Mainland China, and user data are limited to Tmall. Alibaba Group's operating results disclosed in this press release are denominated in RMB. All translations of RMB into US$ are made at US$1=RMB6.6282, the central parity rate announced by the People’s Bank of China (PBOC) on November 10, 2017. The year-over-year comparisons and growth rates are calculated on the basis of RMB amounts and are not affected by foreign exchange rate fluctuations. All GMV, mobile GMV and other figures presented in this press release are unaudited and subject to adjustments.

GMV for the 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba's China retail marketplaces and AliExpress within a 24-hour period on November 11. It is reported on a real-time basis and includes shipping charges paid (where applicable). Transactions related to international brands, defined as brands created outside of Mainland China, and user data are limited to Tmall.

Alibaba Group's operating results disclosed in this press release are denominated in RMB. All translations of RMB into US$ are made at US$1=RMB6.6282, the central parity rate announced by the People’s Bank of China (PBOC) on November 10, 2017. The year-over-year comparisons and growth rates are calculated on the basis of RMB amounts and are not affected by foreign exchange rate fluctuations.

All GMV, mobile GMV and other figures presented in this press release are unaudited and subject to adjustments.


© Business Wire 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ALIBABA GROUP HOLDING
08:09a ALIBABA : Hosts Nigerian Startups in China
07:11a SUN ART RETAIL : Alibaba goes offline with $2.9bn stake in China's top grocer Su..
11/20 Cavium and Alibaba rise while Merck and Marathon Oil fall
11/20 CHINESEINVESTORS.COM, INC. (OTCMKTS : CIIX) Files An 8-K Other Events
11/20 ALIBABA : Pictures and Pasadena Community Foundation Announce Winners of the Big..
11/20 CHINESEINVESTORS.COM, INC. : Other Events (form 8-K)
11/20DJALIBABA : to Buy Stake in Sun Art Retail for US$2.88 Billion -- 2nd Update
11/20DJALIBABA : to Buy Stake in Sun Art Retail for US$2.88 Billion -- Update
11/20 ALIBABA : To Invest $2.88 Bln To Obtain Stake Of 36.16% In Sun Art Retail
11/20DJALIBABA : and Others to Buy Majority Stake in Sun Art Retail for US$2.88 Billion
More news
News from SeekingAlpha
02:59p ZTO EXPRESS : Seems Overvalued
10:20a THE BAK PORTFOLIO :  Making Money On Cannabis And Tech
07:40a 15 Current Wall Street Favorites - Cramer's Mad Money (11/20/17)
04:30a ALIBABA'S SINGLES' DAY BY THE NUMBER : A Record $25 Billion Haul
03:22a Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q3 2017 Update
Financials ( CNY)
Sales 2018 242 B
EBIT 2018 89 202 M
Net income 2018 64 452 M
Finance 2018 150 B
Yield 2018 0,03%
P/E ratio 2018 50,80
P/E ratio 2019 37,59
EV / Sales 2018 12,6x
EV / Sales 2019 8,91x
Capitalization 3 192 B
Chart ALIBABA GROUP HOLDING
Duration : Period :
Alibaba Group Holding Technical Analysis Chart | BABA | US01609W1027 | 4-Traders
Technical analysis trends ALIBABA GROUP HOLDING
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 47
Average target price 1 367  CNY
Spread / Average Target 9,7%
EPS Revisions
Managers
NameTitle
Yong Zhang Chief Executive Officer & Director
John Michael Evans President & Director
Yun Ma Executive Chairman
Wei Wu Chief Financial Officer
Jian Feng Zhang Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
ALIBABA GROUP HOLDING110.83%481 307
JD.COM58.22%55 771
EBAY19.84%37 114
RAKUTEN INC-1.13%14 448
MERCADOLIBRE72.75%11 739
SHOPIFY INC (US)144.67%10 777