EDITION : English/Korean


South Korean Start-Up Coupang Debuts In IPO

by Serena Martinez / Mar 13, 2021 03:28 AM EST
Coupang IPO

Coupang, a South Korean start-up company, has been known for quite a while as the country's "answer to Amazon." Founded by a dropout of Harvard Business School, this company made a wave in the industry and has become one of the most popular and successful e-commerce companies in South Korea.

This year, their presence is not only felt in Korea. Soon, it will be dominating the international market as the company announced its most extensive US initial public offering so far.

The company ended its first day of trading on the New York Stock Exchange on Thursday at $49.25, a 41% jump over its IPO price of $35. The offer has raised to nearly $4.6 billion. On their first day, the spike has given Coupang an $84.5 billion market capitalization.

Coupang was founded in 2010 by Bom Kim. Since then, the company's operations have expanded in Seattle, Shanghai, and Silicon Valley. Reports say that Kim is now worth $8.6 billion after taking Coupang public.

What makes this start-up stand out from the rest of the online shopping and delivery services out there is their "rocket delivery" service. Many online testimonials say that their services have been tremendous and have slowly become one of the recommended online shopping portals of choice. They are notable for their "next day" delivery, free shipping, as well as delivering groceries and other items to your doorstep within the same day of purchase.

Since the start of the pandemic, more and more people have relied on online shopping services to get the needed items that they want to their home instead of going out and risking themselves getting COVID-19. Similar services like Amazon reached a great demand last year, so there's no wonder why Coupang also received so many requests and orders from its growing online customers.

With the company now growing at such a great rate, many hope that Coupang's services will also expand to other countries the soonest. 

Like us and Follow us
© 2024 Korea Portal, All rights reserved. Do not reproduce without permission.
Tags: Coupang, IPO, NYSE

Editor's Pick

BLACKPINK Rosé Hinted Group’s Contract Renewal


May 18, 2023 PM EDT - Serena Martinez

IU’s Agency Releases Statement on Plagiarism Accusations


May 12, 2023 AM EDT - Serena Martinez

BTS Member RM Posts a Personal Update to Fans

RM from BTS

May 08, 2023 AM EDT - Serena Martinez

Connect with us : facebook twitter google rss

Subscribe to our Newsletter

Don't Miss

Real Time Analytics