Valuation reaches 63 billion US dollars! Coupang is listed on the New York Stock Exchange today

It is reported that Coupang will enter the New York Stock Exchange (NYSE) on the 11th with an issue price of US$35 , which is higher than the price of US$24 to US$32 proposed to the US Securities and Exchange Commission (SEC) the day before . It will issue 120 million shares and raise US$4.2 billion.

Investors have praised the rapid growth of South Korea's e-commerce market and Coupang's market dominance , valuing the company at $63 billion , making it the largest U.S. IPO so far this year .

According to Euromonitor, the global e-commerce market size was US$2.534 trillion last year . South Korea surpassed Japan with US$104.6 billion, ranking fourth in the world . South Korea's e-commerce accounted for 35.8% of all online and offline markets , the highest in the world and more than twice the global average ( 16.3%).

Bloomberg reported on Coupang's IPO, saying, "South Korea's e-commerce market is expected to rise to third place this year after China and the United States."

The competition in South Korea's domestic e-commerce market is also attractive. It is reported that South Korea's e-commerce grew by 18.1% last year , and Coupang grew at more than three times the rate, so Coupang's growth potential is highly appreciated.

Currently, Naver (17%) has the largest domestic e-commerce market share , which is close to Coupang (13%) and e Bay Korea (12%). Currently, Coupang's average daily delivery volume is 1.7 million, and it delivers 1,200 products to consumers every minute.

In addition, domestic e-commerce companies are making every effort to shorten delivery times in order to gain control.

Naver has entered into a "blood alliance" with CJ Korea Express to exchange shares, and Naver is also considering exchanging shares worth 200 billion won with E-Mart.

Coupang announced that it will use the $870 million (about 1 trillion won) raised through the IPO to build seven complete (storage , packaging , delivery and inventory integrated logistics management system) centers in South Korea. Pullymont is the core of "rocket delivery" , and through this, Coupang plans to expand the rocket delivery area from the current 70% of the country to 100%.

Although Coupang is not profitable yet, its losses are decreasing and it remains highly competitive in the e-commerce market, with promising future development .

South Korea

Coupang goes public

E-commerce