Alibaba's two e-commerce sites, Taobao Marketplace and Tmall, both experienced exponential growth in sales since 2009, and has then changed what then was called "Double 11" (the date 11/11 is a loosely defined holiday celebrated by young single Chinese for its four "1's," the number representing their single status) into the biggest 24-hour shopping event in the world, Business Insider reports.
After its very successful IPO recently, Alibaba plans to continue its growth momentum coming Singles' Day, offering over 1 million products online.
"We try to create a real global consumer day," Chief Operating Officer Daniel Zhang said. "The numbers could be quite small, because we are in the beginning stage."
