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Alibaba Makes $12 Billion In Two Hours

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News video: Alibaba Makes $12 Billion In Two Hours

According to Alibaba, the company pulled in In $12 billion in sales in the first two hours of Singles' Day this year.

Singles' Day is a holiday created to serve as an alternative to Valentine’s Day in China.

People frequently celebrate being single by buying themselves gifts.

Alibaba has turned the holiday into a blowout celebration.

Alibaba's customers took a mere 2 minutes and 1 second to buy $1 billion worth of products.

In the first hour, the company processed 325,000 orders per second.

more than 60 brands recorded sales of more than $15 million..

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