Promoting the listing of Market Kurly and Timon… “The competition shouldn’t be pushed back” The sense of crisis grows
While Coupang successfully listed on the US stock market, other e-commerce companies are also pushing for listing.
Coupang announced that it will make aggressive investments with the funds raised by listing, and intensifying competition in the online shopping market seems to be the background of the sense of crisis that it is necessary to secure funds for investment in order not to fall behind the competition.
According to industry sources on the 12th, Market Curly, the originator of early morning delivery, is considering listing on the US stock market following Coupang.
Market Curly’s last year’s transaction amount was 1 trillion won, which is less than Coupang (estimated 20 trillion won).
However, when it comes to early morning delivery of fresh food, they are struggling with Coupang and SSG.com.
Curley, the operating company of Market Curly, said that whenever the IPO was mentioned, “there is still planning to focus on growth”, but it seems that he has begun examining the listing by looking at the recent case of Coupang.
In fact, Curly’s CEO Seul-A Kim is known to have revealed a sense of crisis by mentioning the listing of Coupang and the promotion of the sale of eBay Korea while unveiling plans for listing to employees of the team leader level or higher on the 26th of last month.
CEO Kim said, “It is expected that the domestic e-commerce market will be reorganized mainly by big players, so if you do not promote listing this year, you may fall behind in the market.”
Curley also believes that the IPO market conditions at home and abroad have been good and earnings have improved due to the fact that it is time to go public.
Timon is also promoting listing in Korea in the second half of the year.
T-Mon has already entered the listing process by selecting Mirae Asset Daewoo as the IPO supervisor last year, and the former CFO of Big Hit Entertainment in Incheon was also recruited to prepare for listing in earnest.
Last month, the capital deficit was cleared by attracting an investment worth KRW 35 billion.
11th Street listing is also discussed.
Earlier, SK Telecom, the parent company, mentioned “listing within 5 years” in a conference call after the 2018 results were announced, so listing in 2023 is dominant.
In this regard, 11st said, “We plan to prepare according to the market situation”, and as to the timing, “we have to wait and see when”.
Shinsegae Group’s SSG.com is also mentioned as a potential listing.
An official in the e-commerce industry predicted, “It seems clear that the listing of Coupang has changed the perspective of the prospect of the online distribution industry favorably,” and predicted that “there will be an impact on the listing of related companies in the future.”
Another online shopping mall official said, “The more the market share of Coupang increases, the more somebody will have to give it to the market.”
/yunhap news