FT “Coupang, the largest since Alibaba… doubled sales last year”
Reuters and Bloomberg also reported on Coupang IPO news… “Softbank support e-commerce giant”
On the 12th, Coupang announced that it had submitted a report for listing on the New York Stock Exchange (NYSE) through a disclosure by the Securities and Exchange Commission (SEC). The picture shows Jamsil headquarters. [사진=연합뉴스]
“It is expected that the largest fish will be born after Alibaba. It is a giant company in the e-commerce industry supported by Softbank.”
On the 12th (local time), major foreign media showed extraordinary interest in Coupang. After Alibaba, he predicted that Coupang’s corporate valuation will be the largest among foreign companies listed in the US.
The Financial Times (FT) reported on the day that “Coupang will become the largest foreign company in the New York Stock Exchange since its debut in Alibaba in 2014.” In particular, Coupang nearly doubled last year’s sales and narrowed the deficit before public offering. .
FT predicted that Alibaba was valued at $168 billion (approximately 186 trillion won) at the time of IPO, while Coupang is expected to be worth more than $50 billion. This is about 55.4 trillion won in Korean money, and it is a forecast that far exceeds the 30 billion dollar Bloomberg mentioned a month ago.
FT said, “Coupang is a large online retailer in Korea, whose sales have increased by a whopping fourfold since 2018.” “It promises’same day delivery’ for almost all products and can deliver millions of products in just a few hours I said.
He also pointed out that Korea is one of the world’s largest e-commerce markets, but Coupang is facing fierce competition with rivals such as eBay, Gmarket, Naver, and the nation of delivery.
US economic magazine Forbes said in an article titled’Korea’s Amazon applied for an IPO’, saying, “If Amazon is an undisputed winner in the US, this company sponsored by Softbank in Korea will be the winner.” Coupang, which is called as, is an app that more than half of Koreans have downloaded.
Reuters, Bloomberg, and others paid attention to what kind of company Coupang is. Coupang’s performance and growth last year, and the fact that the founder, Chairman of the Board of Directors Kim Bum-seok, was from Harvard University.
Reuters analyzed Coupang’s IPO as a move to the preferences of investors focused on high-growth technology stocks recently, and Bloomberg said Coupang’s prospects that Korea, currently the world’s fifth-largest e-commerce market, could be ranked third by the end of this year.
Earlier, Coupang announced that it had submitted a declaration form (S-1) for listing of Class A common stock to the Securities and Exchange Commission (SEC). This is the first time that Coupang has officially announced the listing process. Coupang plans to list on the New York Stock Exchange (NYSE) under the’CPNG’ ticker code. The timing of listing, the quantity of common stocks to be listed, and the range of offering prices have not been determined.
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