Coupang Jamsil headquarters. yunhap news
When the online shopping mall Coupang applied for listing on the US New York Stock Exchange, foreign media said that the IPO will be the largest since China’s Alibaba.
On the 12th (local time), the Wall Street Journal (WSJ) announced the news of Coupang’s plans to be listed on the New York Stock Exchange (NYSE), saying, “It is expected to become the IPO of the largest foreign company since the Alibaba Group’s blockbuster debut in 2014.” Reported.
At the time of the IPO, Alibaba was valued at $168 billion (about 186 trillion won).
In the case of Coupang, the listing will be completed as early as in March, and a valuation (valuation value) of over $50 billion (approximately 55.4 trillion won) is expected after listing, WSJ said. This is a forecast that exceeded the $30 billion (about 33.2 trillion won) mentioned in the report by Bloomberg News a month ago.
The Financial Times of the UK (FT) also said it is one of the largest foreign IPOs on the New York Stock Exchange in recent years, and Coupang expects a market valuation of more than $50 billion through NYSE listing.
Unlike Amazon, which uses the US postal service, Coupang has its own delivery system, so if you order before midnight, delivery will be completed by dawn the next morning, WSJ introduced.
Meanwhile, foreign media are also paying attention to what kind of company Coupang is.
In an article titled’Amazon of Korea has applied for an IPO’, the US economic journal Forbes said, “If Amazon is a winner in the US, this company sponsored by Softbank in Korea will be the winner.” Coupang, which is called, is an app downloaded by more than half of Koreans.”
Reuters and Bloomberg News shed light on Coupang’s last year’s performance and growth, and the fact that the founder, Bum-Seok Kim, chairman of the board of directors, was from Harvard University.
Yahoo Finance said Coupang’s listing on NYSE is the largest Asian IPO after Alibaba, and evaluated the company as “Amazon met Doordash and Instagram.” It is explained that it has the same function as Amazon, a US e-commerce company, Door Dash, a food delivery company, and InstaCart, a grocery delivery company.
Reporter Lee Ji-young [email protected]