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It is one of the top 10 most valuable corporations, [9] and is named the 31st-largest public company in the world on the Forbes Global 2000 2020 list. [10] In January 2018, Alibaba became the second Asian company to break the US$500 billion valuation mark, after its competitor Tencent . [ 11 ]
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The economist Alex Tabarrok has argued, that the success of this promotion lies in the fact that consumers value the first unit significantly more than the second one. So compared to a seemingly equivalent "Half price off" promotion, they may only buy one item at half price, because the value they attach to the second unit is lower than even the discounted price.
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