CHART OF THE DAY: People Spend Over $9,000 On Alibaba Every Second
In case you hadn't heard, China's e-commerce giant Alibaba just had the world's biggest IPO in history.
But if you thought Alibaba's revenue was explosive, get this: Based on estimates from The Economist charted for us by Business Insider Intelligence, Alibaba shoppers spend an average of $9,368 each second. This is an incredible feat, especially when you consider Amazon shoppers spend less than half of that value ($3,691) each second. Users on eBay, which once tried to compete with Alibaba in China, only spend about $2,775 each second. In other words, Alibaba sells a ton of stuff, and consumers feel very comfortable buying all of it.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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