“Korea’s Amazon has successfully settled on the New York Stock Exchange.”
On the 11th (local time), when Coupang was listed on the New York Stock Exchange, major foreign media reported that Korea’s Amazon made a brilliant debut in the US market.
Coupang rose more than 40% from its offering price, closing its first day at $49.25. Thanks to this, the market cap also surpassed the 100 trillion won mark at once.
In particular, Coupang recorded the largest IPO on the New York Stock Exchange this year, drawing attention from foreign media.
Foreign media introduced Coupang as “a Korean Amazon founded by a Harvard dropout.”
The New York Times said that in Korea, which is obsessed with’quickly’, Coupang has become a name used by many families by realizing same-day delivery and early-morning delivery. The media also introduced that Coupang, founded by a Harvard dropout, is creating a new shopping culture in Korea.
Yahoo Finance said, “Coupang recorded the largest IPO of an Asian company since Alibaba seven years ago.”
Even when looking at the entire US market, Coupang’s collusion was successful. Yahoo Finance said, “It is the largest IPO ever recorded in the US stock market since 2019, which was recorded by Uber in 2019.”
Coupang raised $4.6 billion through the public offering. It is well above the $2 billion recorded by dating app Bumble last month.
Reuters said, “Coupang succeeded in IPO in the New York Stock Market while investors were crowded with companies that benefited from the Corona 19 pandemic.”
Reuters also stressed that Coupang has at once surpassed this year’s largest IPO record recorded by dating app Bumble.
Just before Coupang was listed, Fast Company, an economic media outlet, said, “If you regret not being able to get on the Amazon IPO in the late 1990s, you will be able to aim for a second chance today.”
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Fast Company also predicted that Coupang, traded on CPNG on the New York Stock Exchange, will become the largest IPO this year.
In fact, according to this observation, Coupang set a record this year by raising $4.55 billion (about 5.2 trillion won) on the first day.