Lolli hails ‘milestone’ Alibaba partnership
Alibaba has partnered with Lolli, enabling shoppers to earn 5% back in Bitcoin.
The Chinese e-commerce giant’s US customers can now get Satoshis (sats), the smallest unit of Bitcoin currency, worth 0.00000001 BTC, when purchasing items online.
“This is a milestone partnership for us as Alibaba is the largest retailer and e-commerce company in the world. It allows our users to earn free Bitcoin on millions of products online every day,” says Alex Adelman, CEO and Co-founder, Lolli.
“Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce.”
Singles’ Day
The tie up was announced on Singles’ Day, which this year notched up $38.4 billion in sales. It crushed Amazon Prime Day, which raked in $7.16 billion globally from 15th-16th July.
Alibaba once again hosted a televised entertainment revue in Shanghai to kick things off, this time featuring Taylor Swift and Asian pop icon G.E.M.
“Today we showed the world what the future of consumption looks like for brands and consumers,” said Fan Jiang, President at Taobao and Tmall. “We are meeting the growing demand of Chinese consumers and helping them upgrade their lifestyles, while introducing new users to our digital economy from across China and around the world.”
Last year, sales topped $30 billion, beating the $25 billion generated in 2017.