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Korean Online Shopping Platform COUPANG Raised $4.6 Billion

Esther Thin

Coupang Inc, an online shopping platform in Korea, raised $4.6 billion by offering 130 million ADSs at $35, above the proposed range of $32 to $34 with a market cap of $62.9 billion.

The company builds an end-to-end integrated system of technology and infrastructure to deliver a superior customer experience, launch new offerings, and offer effective merchant solutions. They control and improve the entire experience, from the customer app to the delivery of the order at the customer’s door, while increasing efficiency and lowering price for customers.

The Seoul, South Korea-based company was founded in 2010 and booked $12.0 billion in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol “CPNG.” Goldman Sachs, Allen & Company, J.P. Morgan, Citi, and HSBC are underwriters of the IPO.

The company engages Cooley LLP as US Securities Counsel, and PricewaterhouseCoopers as Independent Auditor.

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