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Coupang, Inc. Company profile

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Coupang (CPNG) is a Seoul-based ecommerce firm with ambitions to become the Amazon of South Korea. Over the past decade, the company has evolved from an online marketplace for third-party merchants, launching its own product selection and integrated logistics network in 2013 that offers its customers free next-day delivery every day of the year. It has expanded to offer Rocket Fresh, its own grocery service, Coupang Eats, its food delivery app, and Coupang Pay, a digital financial service. 

Coupang stock started trading on the New York Stock Exchange (NYSE) in March 2021, under the ticker symbol CPNG.

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Founded in 2010 by Korean businessman and Harvard Business School dropout Bom Suk Kim, who has been joined by several executives who previously worked at Amazon (AMZN), Coupang has seven offices across Asia and the US. The company reported a 90 per cent year-on-year jump in revenue in 2020 to $12bn and narrowed its net loss to $474.9m from $698.8m a year earlier.

In 2020, Coupang had 14.85 million active customers, which was up by 26 per cent from 11.79 million in 2019. The business had established more than 100 logistics and fulfilment centres in more than 30 cities in South Korea. Around 70 per cent of the population is located within a 10km radius of one of the delivery centres.

The company’s strong growth has made it one of the top three private-sector employers in South Korea, which is one of the world’s largest markets for ecommerce. 

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Coupang held its initial public offering (IPO) on the NYSE on March 11, 2021. On March 10, the company revised up the price of the offering to $35 from a range of $27-30 per share filed in its prospectus. In the IPO, it sold 130 million shares, helping the business to raise nearly $4.6bn and giving it a valuation of around $60bn. This made it the largest US listing of an international company since China’s Alibaba (BABA) went public in 2014. 

Coupang’s investors include Japanese venture capital firm Softbank Vision Fund (SVF), which would hold a stake valued close to $20bn at the IPO price, an outsized return having invested $2bn in the company in 2018.

You can trace all the latest ups and downs of the Coupang share price and trade shares in one of the few South Korean companies that is available on the US market using Capital.com’s proprietary CFD trading platform.