Korean E-commerce Leader Coupang Raises $300M Led By BlackRock

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Seoul-based Coupang, an online retailer, announced today that it has raised an impressive $300 million in new funding led by BlackRock Private Equity Partners, with participation from Wellington Management Company, LLP, Greenoaks Capital Management, and Rose Park Advisors.

In an interview with TechCrunch, Coupang’s founder Bom Kim says that the capital will be invested in two key areas: the technology behind its mobile apps, which generates 70 percent of Coupang’s revenue and 80 percent of its total traffic, and its logistics network, which can provide delivery within the same day (or several hours in some parts of South Korea). It will also make additional hires for its engineering and research and development offices, which are located in Silicon Valley, Seattle, and Shanghai, in addition to Seoul.

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I am interested in applying design thinking to the business. I love to code in Central Park on weekends and build something people love to use. You can reach me at sehwan@techforkorea.com

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