Alibaba's CEO started Singles Day to promote a new brand. Now it's a $25 billion 'phenomenon'

Alibaba's CEO started Singles Day to promote a new brand. Now it's a $25 billion 'phenomenon'

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Alibaba's first Singles Day event in 2009 raked in gross merchandise value of $7.8 million. In 2017, the same event brought in more than $25 billion.

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