• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • Manufacturing
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • Korea Internet & Security Agency
    • Korea Institute of Startup & Entrepreneurship Development
    • Korea Creative Content Agency
    • Korea Trade-Investment Promotion Agency
    • Korea Tourism Organization
    • Ministry of SMEs & Startups
    • National IT Industry Promotion Agency
    • Seoul Business Agency
    • Seoul FinTech Lab
    • Pangyo Techno Valley
    • Gyeonggido Business & Science Accelerator
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Business Agencies
    • Accounting Firms
    • Ads & Marketing
    • Law Firms
  • Submit an Article
  • Profile
    • My Articles
    • Create your Startup Profile
    • My companies
    • My Points
    • My Saved Deals
    • Logout
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Marketplaces & E-commerce

Korean e-commerce startup Coupang set to enter US market with IPO

KoreaTechDesk Writer by KoreaTechDesk Writer
February 14, 2021
in Marketplaces & E-commerce
0
Korean e-commerce startup Coupang set to enter US market with IPO

Korean startup Coupang set to enter US market with IPO

0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Korean e-commerce startup Coupang Inc. filed for its US IPO (initial public offering) on February 12th. Coupang is aiming for a valuation of around $50 billion in its debut on the New York Stock Exchange. Coupang’s IPO will be the largest in New York exchange by a company based outside the United States since Alibaba Group Holding in 2014, Dealogic data showed.

The e-commerce giant is backed by Japan’s SoftBank Group Corp and founded in 2010 by Harvard graduate Bom Kim. Coupang is popular in Korea for its ‘Rocket Delivery’ service, which promises delivery within 24 hours of ordering. Coupang was valued at $9 billion in its last private fundraising round in 2018, according to data provider PitchBook.

With the latest IPO plan, Coupang is hoping to cash in on strong demand for high-growth tech stocks in the market as it reported a near-doubling of annual revenue and narrowing losses. In a regulatory filing, Coupang said its total revenue jumped 91% in 2020 to $11.97 billion, while net losses narrowed to $474.9 million from $698.8 million.

The company, viewed as a rival in South Korea to e-commerce giant Amazon.com Inc, received $1 billion in funding from SoftBank in 2015 and $2 billion from its Vision Fund in 2018.

Coupang’s other investors include BlackRock Inc, the world’s largest asset manager, venture capital firm Sequoia Capital and billionaire investor Bill Ackman. The US IPO market is at its strongest in more than two decades, and investors are flocking to buy shares in technology companies that have benefited during the COVID-19 pandemic.

Coupang plans to list under the symbol “CPNG”. It has yet to provide a target asking price for its shares. Goldman Sachs, Allen & Co, JP Morgan, BofA Securities and Citigroup are among the underwriters.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: CoupangE-commerceIPONew YorkStock Market
Previous Post

News in Brief from South Korea: Startups, business, economy, finance, technology & more

Next Post

Korean startup Quotabook making equity management easy for startups & investors

Next Post
Korean startup Quotabook making equity management easy for startups & investors

Korean startup Quotabook making equity management easy for startups & investors

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
0 Comments
Inline Feedbacks
View all comments
No Result
View All Result

FREE NEWSLETTER

Ecosystem Partners

Follow Us




PRODUCTS

Most Popular

    Copyright © 2023 KoreaTechDesk | About Us | Our Services| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

    No Result
    View All Result
    • Topics
      • AI & Big Data
      • AR & VR
      • Blockchain
      • Clean Technology
      • Content & Games
      • Cybersecurity
      • Enterprise & SaaS
      • FinTech
      • Gadgets & Electronics
      • Health & Bio
      • Manufacturing
      • IoT
      • Marketplaces & E-commerce
      • Robotics
      • Transportation & Logistics
      • Investments
      • Ecosystem & Lists
    • Interviews
    • Events
      • ComeUp
      • NextRise
    • Governments
      • Korea Internet & Security Agency
      • Korea Institute of Startup & Entrepreneurship Development
      • Korea Creative Content Agency
      • Korea Tourism Organization
      • Korea Trade-Investment Promotion Agency
      • Ministry of SMEs & Startups
      • National IT Industry Promotion Agency
      • Seoul Business Agency
      • Seoul FinTech Lab
      • Pangyo Techno Valley
      • Gyeonggido Business & Science Accelerator
    • Programs
      • LAUNCHPAD
      • COMEUP STARS 120
      • K-Startup Grand Challenge
      • TIPS X beSUCCESS Global Project
      • SFL Global Program
      • KTO Global Showcase
    • Investment Opportunities
      • Launchpad France Demoday
      • TIPS Global Demoday
      • Launchpad USA Demoday
      • Launchpad Indonesia Demoday
    • Business Agencies
      • Accounting Firms
      • Ads & Marketing
      • Law Firms
    • Submit an Article
    • Forums
    • Profile
    • My Articles
    • Create your Startup Profile
    • My companies
    • My Points
    • My Saved Deals
    • Logout
    • register
    • login

    Copyright © 2023 KoreaTechDesk | About Us | Our Services| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

    wpDiscuz
    0
    0
    Would love your thoughts, please comment.x
    ()
    x
    | Reply
    Our Spring Sale Has Started

    You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

    We hope you enjoy our content, May you please give us Feedback regarding our website!

    Single Post Feedback

    dgdfgfdgdf

    What you think about Koreatechdesk, Share your idea with us!

    feedback popup

    Invitation submission has been closed

    Insert/edit link

    Enter the destination URL

    Or link to existing content

      No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.