This archive report was first published on 11 November 2019.
On November 11, 2019, Alibaba partnered with M-Pesa to offer a 10% cashback to individuals shopping on its platform using M-Pesa. This offer is part of the commemoration of Singles Day, China's largest shopping day.
The integration of M-Pesa and Alibaba platforms is a significant milestone, and this offer is a testament to the growing partnership between the two companies.
Alibaba's Singles Day has been a huge success, with the company selling up to $23 billion in the first nine hours. Sales hit the $1 billion mark in just 1 minute and 8 seconds, surpassing other major shopping days like Black Friday and Cyber Monday.
According to reports, Alibaba's sales on Singles Day last year reached $30 billion, compared to $7.9 billion in U.S. online sales for Cyber Monday. This year, the company expects to attract as many as 500 million customers, up from last year's 400 million.
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