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Like Facebook? Why you'll love Alibaba
Alibaba, the Chinese online retail juggernaut, just keeps on rolling along a seemingly unstoppable route to greater growth. the firm's Q3 results contain frankly jaw-dropping figures: growth up by 54% for example and the number of monthly active users now at 217 million. We're also less than a week away from 'Singles day' on the 11th of November, which has become China's largest online shopping day; when the public are encouraged to buy a present for their single friends. Last year, on Singles Day, Alibaba saw around 6 billion USD worth of goods sold via their websites in less than 24 hours. This year given China's growth and increasing consumer spend that number could be dwarfed and will certainly eclipse similar shopping sales days, like Cyber Monday, in the West.
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