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The most widely accepted theory is that the holiday grew out of Nanjing University's dorm culture.One origin story is that in 1993, four male students of Nanjing University's Mingcaowuzhu ("All single men") dorm discussed how they could break away from the monotony of being single and agreed that November 11 would be a day of events and celebrations in honor of being single.A total of 1.48 billion transactions were processed by Alipay in the entire 24 hours, with delivery orders through Cainiao (Alibaba's logistics affiliate) reaching close to 700 million, breaking the previous record set in 2016.The holiday has particularly grown in Southeast Asia, with customers in the Lazada's Southeast Asian marketplaces ordering 6.5 million items in 2017.The event is not an officially recognized public holiday in China, Sales in Alibaba's sites, Tmall and Taobao, have reached US.8 billion in 2013, US.3 billion in 2014, US.3 billion in 2015, US.8 billion in 2016, and over US.4 billion in 2017.also achieved a sales record of US.1 billion in 2017, while Lazada drums up US3 million.
In the United Kingdom, Single's Day, also called National Singles Day, is celebrated on the 11th March.
On Singles' Day 2017, Alibaba set a world record for most payment transactions during the festival.
Its mobile wallet app Alipay processed 256,000 payment transactions per second.
The date, November 11th (11/11), was chosen because the number "1" resembles an individual who is alone.
The holiday has also become a popular date to celebrate relationships, with over 4,000 couples being married in Beijing on this date in 2011, compared to an average of 700 a day.