Alibaba generated nearly US$25.3 billion of gross merchandise volume (GMV) settled through Alipay during the shopping festival.

The company generated 50% ($12Bn) in the first two hours of the 2017 11.11 Global Shopping Festival, which saw participation from more than 140,000 brands.

Alibaba’s third annual 11.11 Global Shopping Festival Gala
Alibaba’s third annual 11.11 Global Shopping Festival Gala

The Alibaba Economy at Scale

  • Total GMV settled through Alipay was RMB168.2 billion (US$25.3 billion), an increase of 39% compared to 2016
  • Total mobile GMV settled through Alipay was approximately 90% of total GMV, compared to 82% last year
  • More than 140,000 participating brands and merchants
  • Alipay processed 1.48 billion total payment transactions, up 41% from 2016, and processed 256,000 transactions per second at peak
  • Alibaba Cloud processed 325,000 orders per second at peak
  • Cainiao Network processed 812 million total delivery orders
  • The first delivery arrived 12 minutes and 18 seconds after midnight

What do we feel about this? Well.