Coupang, founded in 2010, is one of South Korea’s largest online retailers, selling more than 120 million items from consumer electronics to food. The deal marks another bet on ecommerce for SoftBank, after putting an initial USD 1 billion investment into Coupang in 2015.
With the previous investment, Coupang built its own fulfilment and last-mile delivery infrastructure. Though the company is focused on reaching Korean consumers, it has offices in Beijing, Los Angeles, Seattle, Seoul, Shanghai, and Silicon Valley.
Earlier in 2018, Alibaba has joined SoftBank to invest USD 222 million in Indian ecommerce platform Paytm Mall.
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