Coupang headquarters in Seoul. Shutterstock.
Since its launch in 2010, the Seoul-headquartered firm has been forthright about its plans to list on the NASDAQ. This goal could be realised within the first half of 2021, the Korea Times reported.
On Coupang, South Koreans can buy everything from Nike sneakers to groceries to iPhones. As the market’s top e-commerce players, the firm saw sales soar over the pandemic. By April 2020, it held a 24.6 percent share of the local e-commerce market — an 18.1 percent uptick year-on-year — according to market research firm Nielson Korea.
Industry sources revealed that after Coupang passed a preliminary review in January, its underwriter Goldman Sachs is conducting presentations to potential investors in South Korea and abroad. If things go according to plan, sources expect that the firm’s listing timeline will be determined in March; its parent company, Coupang LLC, will be the subject of the IPO and is valued at around $30 billion.