[아이뉴스24 김태헌 기자] Coupang’s market cap exceeded 100 trillion won on the first day of listing on the New York Stock Exchange. Coupang even revealed a plan to strengthen its market dominance by investing in large-scale distribution centers and rocket delivery for the’real ammunition’ secured by listing.
◆ Coupang starts to rise even on the second day of listing
According to the distribution industry on the 13th, Coupang closed the market at $49.25, a 40.7% increase from 35 dollars on the 12th, the first day of its listing. As of the beginning of the market on the second day of listing, the market cap of Coupang surpassed 107 trillion won, giving a fresh shock to the domestic distribution industry. This is after Samsung Electronics (494 trillion won) as a domestic company based on market capitalization.
In addition, it is the sum of the two major portal sites in Korea, Naver (61 trillion won) and Kakao (40 trillion won), and major domestic distribution companies, Shinsegae (2.8 trillion won), E-Mart (4.9 trillion won), and Lotte Shopping (3.5 trillion won). ), etc. It is dozens of times higher than the price.
The person who received the most benefit from this listing is Son Jeong-eui, chairman of Softbank Group. SoftBank owns 37% of Class A shares by investing $3 billion in both 2015 and 2018.
However, all management is under the leadership of Coupang, Chairman of the Board of Directors Kim Bum-seok. Chairman Kim told reporters after listing that he plans to invest in Korea with the funds secured. It seems to be a remark conscious of the controversy over the’American company’ raised through Coupang’s capital and listing. In addition, CEO Park Dae-joon said, “We will create innovative services by optimizing the nationwide logistics network,” and revealed that the raised funds will be put into the logistics network.
Market Kurly, who watched Coupang’s success story, also officially prepared for listing on the New York Stock Exchange on the same day. An official from Market Curly said, “On the 26th of the past month, we explained the listing plan to employees at the team leader level and above, and announced it.” In the meantime, Market Kurly has revealed that it has “no plans to list it.”
Market Kurly feels a sense of crisis as Naver and Shinsegae cooperate with the recent listing of Coupang, and last year’s estimated sales exceeded 1 trillion won and have all the requirements for listing.
◆ Catch the distribution industry’delivery’
Coupang is a latecomer to e-commerce and started out as social commerce. However, it changed the company’s constitution and solved the’delivery’ problem, which was the biggest complaint of domestic consumers through systems such as direct delivery and same-day delivery.
In addition, it has built a groundbreaking system that offers early morning delivery on the same day, allowing fresh food as well as some home appliances to be ordered before 12 p.m. in about 7 hours. In the meantime, consumers had to wait at least a day to receive the items they ordered from e-commerce companies.
Coupang captivated consumers through such changes in the delivery system, and quickly became the No. 2 company in the e-commerce market. Of course, existing retailers that check Coupang also introduced early morning delivery, but consumers had already fallen for Coupang’s’flavor of delivery’.
Recently, Naver has also established a strategic partnership with CJ Logistics related to logistics. Through this, both companies are promoting’Arrival Today’ for fast delivery. Lotte On is also operating a’relay delivery’ pilot service at the Jamsil branch of Lotte Mart in partnership with delivery platform startup PLZ (PLG).
An official in the securities industry said, “If Coupang had been listed on the domestic market, it would not have been recognized for such high corporate value. In the US, it seems that Coupang’s delivery system is very attractive.”
/ Reporter Taeheon Kim ([email protected])