Company revenue in 2019
Items delivered daily
Coupang Corp. is a South Korean e-commerce company founded in 2010. The 3rd place (in term of Gross Merchandise trade volume) largest online retailer in South Korea, Coupang's annual revenue exceeds US$4 billion. Coupang offers an e-commerce platform that is powered by innovative technology and operations. It places customers first and offers them possible prices and product selection within a highly convenient and personalized shopping environment.
Powered by technology and operations, Coupang has set out to transform the end-to-end customer experience from revolutionizing last-mile delivery to rethinking how customers search and discover on a truly mobile-first platform. Coupang is a global company with offices in Beijing, Los Angeles, Seattle, Seoul, Shanghai, and Silicon Valley.
Coupang was named one of the “50 Smartest Companies in the World” by MIT Technology Review and “30 Global Game Changers” by Forbes.
Coupang has inevitably drawn comparisons to Amazon, given its focus on cheap, fast delivery and convenience. The company’s slogan — “How did we ever live without Coupang?” — riffs on the same themes as Amazon’s focus on “customer obsession,” such as delighting customers and eliminating pain points in the online shopping experience. These efforts appear to be working, since more than half of all Koreans have downloaded Coupang’s app, the company says.
Coupang was founded in 2010 by Bom Kim and is headquartered in Gangnam District, Seoul, South Korea with offices in Beijing, Los Angeles, Seattle, Seoul, Shanghai, and Silicon Valley.
Coupang is backed by leading investors including SoftBank, Sequoia Capital, Wellington Management, SoftBank Vision Fund, & BlackRock Private Equity Partners among others. The company raised $2B in it's most recent funding of a "Private Equity Round" on Nov 20, 2018. The latest financing brings Coupang's total funding to $3.4B to-date.
Rumors are swirling that this innovative, hyper-growth e-commerce giant will IPO sometime in 2021. For public investors, that’s exciting, because it gives us the chance to invest in Coupang, which is arguably the most explosive e-commerce company in the world today with huge upside potential in the long run.
The company says 70% of Koreans live within 10 minutes of a Coupang logistics center, making last-mile delivery easier to achieve. It’s also helped by the fact that South Korea is one of the world’s most densely populated countries.
Last year Coupang further accelerated delivery speeds when it launched Dawn Delivery, which promises to drop off packages on shoppers’ doorsteps by 7 a.m. as long as they place the order by midnight the day before. That’s even faster than Amazon’s next-day delivery, which has a noon cutoff time. Coupang’s logistics investments have paid off, as 99.3% of orders placed on its site are delivered within one day, the company said. Coupang now delivers 3.3 million items each day, up from an average of 2.2 million units per day at the end of 2019.
Like Amazon, Bom Kim, founder and CEO of Coupang, realized early on the importance of controlling the delivery process. The company has invested millions on building out its own end-to-end logistics network, which includes 200 warehouses spanning 20 million sq. ft. across the country, as well as trucks and thousands of delivery drivers.
Coupang is said to be valued at $9 billion and has drawn $3.4 billion in venture capital funding to date, including an investment of $2 billion in 2018 by SoftBank’s Vision Fund and $1 billion in 2015 by SoftBank itself. Its other investors include BlackRock, Sequoia Capital and Fidelity.
According to management, Coupang’s revenues rose more than 60% year over year to 7.2 trillion won in 2019. E-retail sales in South Korea in 2019 measured 135 trillion won, giving Coupang about 5% market share on a revenue basis.
That share has been rising for several years. It should keep rising going forward, because Coupang is further differentiating itself as the fastest player in this market, at a time when speed is the most important thing to the consumer. Consequently, it’s easy to see Coupang’s market share rising to 20%+ over the next few years.
Coupang’s valuation currently sits around $9 billion.
The company will likely IPO at a higher valuation, possibly around $20 billion or more.
Long-term, though, this is a $50+ billion company in the making.
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