Alibaba's Singles' Day sales hit $14.32 billion.

REUTERS/China Daily.

BEIJING (Reuters) - Alibaba Group Holding Ltd's total value of goods transacted during its Singles' Day shopping festival was 91.2 billion yuan ($14.32 billion), the Chinese e-commerce giant said in Beijing on Thursday.

The results are preliminary and unaudited, Alibaba said.

Singles' Day is the biggest shopping event in the world, larger than the United States' Black Friday and Cyber Monday combined. Many Chinese e-commerce firms offer steep discounts to attract consumption on a massive scale.



Culled from Yahoo News.
(Reporting by Paul Carsten, editing by David Evans)