Coupang China

Company Introduction

Coupang is a global e-commerce leader. Our mission is to create a world in which our customers ask, ‘How did I ever live without Coupang?’ We place our customers first and offer them the best possible prices and product selection within a highly convenient and personalized shopping environment. We are continually looking for passionate builders who can work with us to fulfill our goals.

The Korean market provides favorable conditions for e-commerce expansion. In 2016, e-commerce sales in Korea totaled 56 billion US dollars[ ] with predictions that sales would grow to over 100 billion dollars by 2020. Moreover, Seoul is one of the most densely populated cities in the world. This generates exciting opportunities for companies seeking to pioneer new modes and methods of product delivery. Market conditions in Korea therefore provide the perfect environment for a forward-facing company like Coupang.

Coupang launched operations in August 2010. At the outset, we functioned along the lines of a deal-based business model. We attracted 7,000 customers during our first week of business and reached 5 million dollars in sales by the end of 2010.[ ] In 2014, we pivoted to an online retail model and by 2015 our annual revenue had exceeded 1 billion dollars, a milestone we reached faster than any other Asian e-commerce company. Our sales doubled in 2016 to approximately 1.7 billion dollars and in 2017 our revenue exceeded 2.5 billion dollars[ ], an increase of 40% year-on-year. We have quickly become one of the world’s fastest growing e-commerce startups and our success has been recognized by our investors. In 2015, SoftBank invested 1 billion dollars in our company, which put us at a 5 billion dollar valuation. We have also received sizable investments from BlackRock and Sequoia Capital[ ].

We are also leaders in last-mile delivery. We own the delivery process end-to-end, all the way to your doorstep, with our own fulfillment centers, trucks, and drivers. Our extensive logistics infrastructure covers the area of over one hundred soccer fields. Since early 2014, we’ve been delivering products with our next-day Rocket Delivery service, and we currently hold approximately 370 million dollars[ ] worth of inventory across 54 logistics centers. Our business success is also driven by our dominant position in mobile e-commerce. One in every two Koreans has downloaded our mobile application and over 90% of our sales are completed on mobile devices.[ ][ ]

We continue to innovate and have received multiple accolades. We have been named one of the ‘50 Smartest Companies in the World’ by MIT Technology Review and we are one of Forbes magazine’s ‘30 Global Game Changers’. To date, only nine companies including Amazon, Google, Facebook, Tesla Motors and Coupang have been named on both lists.

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