The Opening Bell 11/14/18: The Company Making Amazon Look Like A Mom & Pop Shop…

The Opening Bell

The final tally for Alibaba’s 11.11 Global Shopping Festival also known as “Singles Day” (AP Photo/Ng Han Guan)

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It’s hard to imagine how much one billion actually is, but somehow, the Chinese e-commerce giant, Alibaba managed to reach $30 billion in sales in one day. Steve Grzanich checked in with Sherisse Pham (Business and Tech Reporter at CNN) from Hong Kong to learn about how these staggering numbers are impressive, but not the entire story.  Michael Farren (Research Fellow at The Mercatus Center) then broke down the basics of what Amazon’s HQ2 locations  immediate impact will have on their new locations (Virginia and New York).

 

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