South Korean e-commerce startup Coupang close to raising $1 billion from SoftBank

coupang

E-commerce startup Coupang, often described as the Amazon of South Korea, is said to be close to raising $1 billion in a private equity round led by Japan’s SoftBank Corp.

According to a report in the South Korean press (link in Korean,) the two parties are said to be in the process of due-diligence prior to the round, in which Softbank will take a 20 percent stake, closes.

The company will have a book valuation of $5 billion once the round closes.

Founded in 2010, Coupang offers a curated selection of diverse merchandise including baby goods, fashion, beauty products, consumables, home goods and decor, books and toys, sporting goods, electronics, and tickets for travel and cultural events.

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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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