The 19-year-old China-based eCommerce company generated over $30 Billion during its annual Singles’ Day sale over the weekend. This year’s sales event increased 27% from the previous year.
Over 180,000 brands including Apple, L’Oreal, and Nike participated in the global event with Alibaba reporting over 1 billion delivery orders processed.
According to Business Insider, Alibaba’s Single’s Day sales surpassed Amazon’s Prime Day sales within 10-minutes of opening.
Meredith Sells its Fortune Brand for $150 Million
The American-based media conglomerate announced that it has entered into an agreement to sell its Fortune brand to Chatchaval Jiaravanon, a Thai telecom Executive who is also a member of the country’s richest family.
According to a company press release, Jiaravanon intends to “increase investment in FORTUNE’s digital capabilities, geographic expansion, and editorial talent as part of a strategy to become the premium business content provider worldwide.”
Meredith Corporation, who also owns brands such as InStyle, Departures, and AllRecipes, expects the deal to close later this year.
The largest professional social network, which is also owned by Microsoft, announced that it is piloting a new feature that will help its users and event organizers “create and join professional events, invite their connections, have conversations with other attendees, and stay in touch online after the event ends.”
The feature will initially be available to a select group of event organizers in San Francisco and New York with the intention of a global rollout over the next few months.
According to the United States Department of Labor, face-to-face meetings continue to remain an important aspect of business operations, especially during a time of increased online communication.