Coupang

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Coupang, Inc.
TypePublic
NYSECPNG
Industrye-commerce Edit this on Wikidata
Founded2010; 11 years ago (2010)
HeadquartersSeoul, South Korea
Key people
Bom Kim
Number of employees
37,000[1]
Websitecoupang.com
Coupang delivery truck in Seoul, 2017.

Coupang (Korean: 쿠팡) is a South Korean e-commerce company founded in 2010. It is incorporated in Delaware, United States.[2]

Overview[edit]

The 2nd place largest online retailer in South Korea,[3] Coupang's annual revenue exceeds US$5.9 billion.[4] The company's Rocket Delivery network provides same-day or next-day delivery of more than five million unique items.[5] Coupang claims that 99.6 percent of its orders are delivered within 24 hours.[6]

Coupang is headquartered in Seoul, South Korea, in the Songpa-gu District. Coupang also has offices in Beijing, Shanghai, Los Angeles, Mountain View, and Seattle.[7]It is incorporated in Delaware, United States.[8]

Coupang was founded by Bom Kim in 2010. A student of Harvard University, Kim started to study for his MBA at Harvard Business School but dropped out after six months into the program.[9]

In November 2018, Coupang received a US$2 billion investment from SoftBank.[10] Other major investors in Coupang include BlackRock and Fidelity.[11]

The company has grown during the COVID-19 pandemic with increased demand for online shopping.[12] In July 2020, Coupang acquired assets of Singaporean streaming service HOOQ to form the nucleus of its streaming service named Coupang Play.[13]

Coupang had its IPO on the New York Stock Exchange on 11 March 2021.[12]

References[edit]

  1. ^ "Coupang Creates More Jobs than Total Jobs Lost in 500 Largest Companies". Archived from the original on 9 October 2020. Retrieved 1 September 2020.
  2. ^ "Archived copy". Archived from the original on 14 February 2021. Retrieved 14 February 2021.CS1 maint: archived copy as title (link)
  3. ^ Palmer, Annie (16 June 2020). "Coupang, a SoftBank-backed start-up, is crushing Amazon to become South Korea's biggest online retailer". CNBC. Archived from the original on 8 October 2020. Retrieved 8 October 2020.
  4. ^ "Coupang narrows operating loss by 36% in 2019 on 64% jump in sales - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Archived from the original on 14 October 2020. Retrieved 8 October 2020.
  5. ^ Cho, Hyee-Su (15 April 2019). "Coupang posts 65% on-year growth in revenue". The Korea Herald. Retrieved 8 September 2019.
  6. ^ CNBC.com, Joel Dreyfuss, special to (2 April 2018). "The $5 billion South Korean start-up that's an Amazon killer". CNBC. Archived from the original on 26 July 2019. Retrieved 9 September 2019.
  7. ^ "Korean e-commerce unicorn Coupang hires Walmart's former global chief compliance officer". TechCrunch. Retrieved 8 September 2019.
  8. ^ "Archived copy". Archived from the original on 14 February 2021. Retrieved 14 February 2021.CS1 maint: archived copy as title (link)
  9. ^ Gilchrist, Karen (4 December 2019). "How a Harvard dropout founded South Korea's most valuable start-up". CNBC. Archived from the original on 1 October 2020. Retrieved 8 October 2020.
  10. ^ Jung-a, Song (1 January 2019). "Etailers battle to win 'Amazon of South Korea' crown". Financial Times. Archived from the original on 17 September 2019. Retrieved 8 September 2019.
  11. ^ "Investors Continue to Back Coupang Despite Operating Losses". 비즈니스코리아 - BusinessKorea (in Korean). 15 May 2018. Archived from the original on 3 December 2019. Retrieved 9 September 2019.
  12. ^ a b Toh, Michelle. "Coupang, the Amazon of South Korea, raises $4.6 billion in US IPO". CNN. Retrieved 17 March 2021.
  13. ^ "SoftBank-Backed Coupang Buys Hooq Assets to Take on Netflix". Bloomberg. 9 July 2020. Retrieved 14 July 2020.

External links[edit]