Sales reached 13 trillion won! Coupang announced that it will be listed on the New York Stock Exchange

It is reported that South Korean online shopping mall Coupang has officially announced its listing on the New York Stock Exchange in the United States . Its stock code is planned to be listed under CPNG. The number of common shares listed and the issue price range have not yet been determined.

Coupang said on February 12 : "The U.S. Securities and Exchange Commission (SEC) has filed an S-1 filing for Class A stock listing."

Relevant industries believe that Coupang has benefited from the growth of the online market due to the impact of the new coronavirus .

Coupang LLC 's total sales last year reached 11.967 billion U.S. dollars (about 13.25 trillion won), an increase of 90.8% from the previous year (about 7.15 trillion won ). The operating deficit decreased to 527.7 million U.S. dollars (about 580 billion U.S. dollars) compared with the previous year (643.8 million U.S. dollars) , and the net loss improved slightly .

On the other hand, the number of users using Coupang last year was 14.8 million, up 25.9% from the year before. The purchase amount per user also reportedly increased from $161 to $256, up 59%, and among the 14.8 million users, Rocket Wow members who pay monthly fees accounted for 32%.

Designated South Korea’s No. 1 “unicorn” in May 2014 , Coupang ’s enterprise value has now increased at least 30 times.

Last month, Bloomberg News assessed Coupang's market value at $30 billion (about 33 trillion won) , and The Wall Street Journal ( WSJ) reported that Coupang's valuation is expected to exceed $50 billion (about 55.4 trillion won) .

In addition, Coupang also compared itself with Amazon in its S-1 filing , stating that it is faster and cheaper than Amazon , with more prominent advantages, and listed the company's rocket delivery and return system , etc.

It is reported that Coupang has more than 150 distribution centers in 30 cities in South Korea and directly employs more than 13,000 delivery-related personnel.

If Coupang is successfully listed on the New York Stock Exchange, it is expected to raise large-scale corporate financing . It will gain advantages from investments in new businesses , such as logistics and delivery services , further enhance Coupang's competitiveness and obtain more profits under the current market development situation.

South Korea

Coupang

Listing