Chinese e-commerce company Alibaba recorded $14.3 billion in sales on Singles Day this past Wednesday; breaking its record last year during the same time and going past its estimates of $11 billion worth of sales.

The exact figure in sales that the company had made as soon as the clock struck midnight was $14,341,847,366, BBC reported. Last year, Alibaba's $9.3 billion in sales set a record as the biggest online sales day in history. And yet, this year's sales figure sees the online company skyrocket past the previous figure.

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Previously, Alibaba (BABA) shares had been down 2 percent in trading on Wednesday, at $ 79.80. Mobile sales accounted for a majority of the Alibaba received on Singles Day - at 69 percent, according to Alibaba Group Holding Limited, Tech Crunch reported.

According to USA Today, at peak times, Alibaba's online financial system was processing 85,900 transactions per second on the Singles Day.

Singles Day has been celebrated since the 1990s in China. But it was made a shopping event by modern retailers; it has been dubbed a Global Shopping Festival. In 2012, Alibaba tradmarked the name Singles Day.

Despite the fact that it proves difficult to compare prices between China and United States because many goods are not sold at the same time, Clavis Insight has collected data on some sales on Alibaba.

The sales as recorded are as follows; New Balance retro running shoe, went for $39 and not as $78 as originally placed; Columbia 650 Punta jacket went for $235 and not $ 470 as originally placed; and Sketchers shoe went for $58 and not $117 as originally placed.

Despite Alibaba's Singles Day success, some experts say Jack Ma's vision of exporting Singles Day to the United States may not be viable. In China, Singles day takes place in Nov. 11 since 11-11 looks like singletons or like branches without fruits and leaves, something that is well connected to bachelors in Chinese.

Coincidentally, Nov. 11, in United States and United Kingdom, is celebrated as Remembrance Day and Veterans Day because it serves as the day when the First World War ended back in 1918.

TagsAlibaba Group, Alibaba stocks, Alibaba Group Holding Limited, China Singles Day, Alibaba site, Alibaba Singles Day Sales