Singles' Day shows how Alibaba has grown
Alibaba's Singles' Day delivered roughly $38.4 billion in sales Monday, 26% higher than the previous year's total.
The intrigue: The one-day Chinese festival, a corporate-created answer to Valentine's Day, recorded sales that were billions of dollars higher than the combined total expected from Thanksgiving, Black Friday and Cyber Monday shopping in the U.S., according to projections from Adobe Analytics.
Flashback: Alibaba has come a long way from its not-so-humble stock market debut, which remains the largest but is poised to be heartily outdone if and when Saudi Aramco makes its IPO.
- Alibaba has more than doubled its value since coming to market with a market cap of $231 billion in September 2014 to more than $486 billion today.