Coupang (company)
Coupang is an e-commerce company based out of South Korea.[1]
Coupang is the world's fastest growing e-commerce company[2] and was founded in 2010 by Bomseok Kim, a graduate of Harvard Business School.
History
The company started by offering daily deals on services, but quickly expanded to partnering with merchants and selling physical goods. Today, Coupang offers a curated selection of diverse merchandise including baby goods, fashion, beauty products, consumables, home goods and decor, books and toys, sporting goods, electronics, and tickets for travel and cultural events.[3]
Recent News
In 2016, its fifth year full year in operation, Coupang exceeded $1 billion USD in annual sales.[4] Coupang has achieved its growth by consistently innovating new services that benefit the customer experience, such as a compelling mobile shopping platform, same-day delivery and personalized recommendations.[5] In 2011, Coupang released an app for iPhone and Android. As of August 2013, mobile sales accounted for more than half of the company's sales and 70% of its web traffic.[6]
As of May 2012, Coupang had approximately 700 employees, 12 million subscribers and 25,000 merchants selling goods on its marketplace.[7] The company became cash flow positive as of late 2011 and achieved monthly net profit as of May 2012.[8]
As of May 2014, Coupang has raised a total of $160 million from U.S. venture capitalists investors including Sequoia Capital Global Equities, Sequoia Heritage, Greenoaks Capital Management, Rose Park Advisors, Maverick Capital, LaunchTime, Altos Ventures, Bill Ackman, Clay Christensen and others.[9]
In October 2012, Coupang made Business Insider's list, "THE DIGITAL 100: The World's Most Valuable Private Tech Companies".[10]
In June 2015, Coupang received an investment of $1 billion from Japan’s Softbank.[11]
References
- ↑ Coupang "About Us", [Coupang], Retrieved 13 August 2013.
- ↑ Cho, Ji-hyun. "Coupang to focus on customer satisfaction in 2012", Korea Herald, 11 January 2012.
- ↑ Colao, J.J. "How an E-Commerce King is Conquering Korea", Forbes, 14 August 2013.
- ↑ Alden, William "New Funding Round Gives Korean E-Commerce Site a $1 Billion-Plus Valuation", New York Times, 28 May 2014.
- ↑ Colao, J.J. "How an E-Commerce King is Conquering Korea", Forbes, 14 August 2013.
- ↑ Colao, J.J. "How an E-Commerce King is Conquering Korea", Forbes, 14 August 2013.
- ↑ Takahashi, Dean. "Korea's 21-month-old e-commerce startup Coupang will generate $600M in revenue this year", VentureBeat, 30 May 2012.
- ↑ Cho, Ji-hyun. "Coupang aims for NASDAQ listing as early as 1st half of 2013", Korea Herald, 18 June 2012.
- ↑ Alden, William "New Funding Round Gives Korean E-Commerce Site a $1 Billion-Plus Valuation", New York Times, 28 May 2014.
- ↑ Shontell, Alyson. "THE DIGITAL 100: The World's Most Valuable Private Tech Companies", Business Insider, 3 October 2012.
- ↑ Ritsuko Ando (3 June 2015). "SoftBank to invest $1 billion in Korean e-commerce site Coupang". Reuters. Retrieved 3 June 2015.