Alibaba rakes in $1 billion in the first minute of trading on Singles Day


218 days ago

In one of the more exciting technological advancements, the world’s biggest shopping day lived up to the hype as e-commerce platform Alibaba set another retail record, selling $30.8 billion in gross merchandise volume.

The online shopping platform raked in $1 billion in the first minute and 25 seconds on Singles Day 2018, which is held annually on 11 November to celebrate all single people.

What Alibaba made on Singles Day nearly triple what U.S. consumers spent online in 2017 for Black
Friday and Cyber Monday combined.

Alibaba made nearly that much ($10 billion) in an hour and 48 seconds on Sunday.

It only took Alibaba an additional 14 hours, 48 minutes and 51 seconds to break its record of $25.3 billion from Singles Day 2017.

Read: Bionic lenses could make glasses and contact lenses obsolete

Berners-Lee on Monday revealed a new campaign called "Contract for the Web" at the Web Summit tech conference in Lisbon, Portugal. The campaign promotes principles for governments, companies and citizens to improve the internet and fight back against hate speech, privacy concerns and political manipulation.

More than 50 companies and organisations, including Facebook (FB), Google (GOOGL) and the French government have signed the contract, which will be published in full in May 2019.

He says that these social media companies have too much control, they know too much about us and we want to try and fix this...

Aki Anastasiou, Tech Guru

Basically, he wants to make the internet a better place and take it to where it was by giving the users more control.

Aki Anastasiou, Tech Guru

A recent study has found a correlation between relationship health and Facebook use that may cause more people to want to switch off the computer and smartphone in favour of spending more time paying attention to their spouses.

The study, published in the Journal of Cyberpsychology, Behaviour and Social Networking, found that people who use Facebook more than once an hour are more likely to "experience Facebook-related conflict with their romantic partners.” That conflict could then lead to a breakup or divorce.

The study, conducted by Russell Clayton, a doctoral student in the University of Missouri School of Journalism, and his colleagues at the University of Hawaii at Hilo and St. Mary's University in San Antonio, surveyed 205 Facebook users aged 18 to 82.

Of those surveyed, 79 percent reported being in a romantic relationship. While previous studies had shown that the more a person uses social media sites like Facebook the more like they were to monitor their partners, Clayton's study was the first to look at the actual break up rates.

To read more about this fascinating study click here

This article first appeared on 702 : Alibaba rakes in $1 billion in the first minute of trading on Singles Day

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