On February 15th, Capital State said that recently, it was reported that Coupang, the largest e-commerce platform in Korea backed by SoftBank, filed an IPO application in the United States. The South Korean e-commerce giant will be listed on the New York Stock Exchange under the stock code "CPNG". SoftBank holds a 38% stake in the company.
Founded in 2010, Coupang is an e-commerce company headquartered in Seoul, the capital of South Korea. It is also one of the few Korean unicorns in South Korea.
Last year, the company also stated that it would invest approximately US$276 million in the construction of a large-scale logistics center with technical support in the Daegu National Industrial Park, and establish a major base for the company's national logistics system plan. It is understood that SoftBank has been investing in this e-commerce company since 2015. At that time, it invested US$1 billion. In November 2018, it invested another US$2 billion, which caused its valuation to soar from USD $5 billion to 9 billion USD. Some insiders report that if Coupang is successfully listed, its market value may exceed US$10 billion.
Note: Some information may not be correct please don't take it seriously
