Chinese e-commerce giant, Alibaba, continues to set records in many fields. About two months ago, the company set a world record for the largest IPO at $25 billion with shares at $68. Since then, the company’s value has continued to outpace investor expectations. As of Thursday, Nov. 13th, Alibaba stock has increased in value by 75%, closing at $118.

Much of the company’s success is due to its dominance of the Chinese e-commerce market. During the Chinese national holiday “Singles’ Day”, Alibaba reported sales equivalent to $9.3 billion. Considering that Singles’ Day is the Chinese equivalent to Valentine’s Day in the U.S., Alibaba has concentrated a huge portion of sales. The average spending across the entire U.S. on Valentine’s Day is around $13 billion, but this is channeled through hundreds of different vendors and companies.

Netting billions of dollars in a single day is no easy feat, but Alibaba has harnessed over 300 million users and captured 80% of China’s online market. The company’s market capitalization is currently at $289 billion. This makes it more valuable than Amazon and Ebay combined. It’s even larger than physical brands like Walmart and General Electric, two staples in the American marketplace.

The next moves being taken by the company are to sell off approximately $8 billion of U.S. bonds to pay off substantial loans that have been fully drawn down. This move has been made possible by the huge IPO and subsequent influx of capital. With a large portion of their financial commitments cleared, the company will be much more capable of growing in new directions with greater freedom.

Jack Ma, founder of Alibaba, has also intimated that he is considering an IPO for the equally-vital company of Alipay, the e-commerce giant’s online escrow payment platform. The Alipay system handles approximately $30 million in daily commerce, supporting transactions in 12 foreign currencies including the dollar. Considering that the value of online transactions in China has exceeded $660 billion in 2012, this IPO could be the next record-breaking feat achieved by Alibaba.