Record volume of more than $ 25 billion of the product was sold by Alibaba at the greatest Chinese online shopping event on Singles’ Day. The sales totaled 163.8 billion renminbi, which is about $ 25.3 billion, in gross merchandise volume (GMV), which indicates the total value of the dollar in online sales. For the whole sales day period, 1.48 billion transactions were carried out by Alibaba. Total sum increased by 39 percent compared to 120.7 billion renminbi ($ 17.79 billion) last year.
The sales expansion which again can be seen on Singles’ Day becomes a sphere where Alibaba should achieve good results in order to attract the attention of venture investors.
Though each year from 2013 to 2015 Alibaba sales shown a sharper increase by 60, this year results are still stunning, with sales having risen 32% compared to last year. This year Singles’ Day shopping event earned an amount of $ 7 billion in just half an hour of sales. Twelve hours later Alibaba undeniably broke its own $ 18 billion record of last year.
It is a usual thing in business that small startup develops into a successful company. Singles’ Day is one of such startups. It is a business idea which made an impressive success and has brought in a huge profit to its founders. Hypercube Ventures fund is interested in such projects in order to support newcomers who have brilliant startups but have no idea how to translate it into reality. With the help of our Venture fund specialists, the projects develop and maintain their competitiveness. The startups, in turn, make a great success and bring profit to venture investors soon. Hypercube Ventures makes big dreams of investors and startup companies a reality.
As previously reported, Alibaba allocated a subdivision of the company for the production of "smart" trucks, which was interesting for many investors and funds.