SoftBank to invest in Korean E-Commerce site Coupang.

SoftBank Group Corp’s Vision Fund is investing $2 bn in South Korea’s top e-commerce firm Coupang, as the loss-making startup girds for battle against rivals backed by the country’s cash-rich chaebol. Coupang is a major player in the country’s e-commerce market. However it has suffered large losses, as it poured money into building new technology and its logistics infrastructure. “The $2 billion we are receiving now is exciting, because we can invest in more technology platforms that enable this innovation,” said Coupang founder and chief executive Bom Kim.