Announced
Financials
Sources
Tags
Acquisition
online retail
Pending
e-commerce
Friendly
South Korea
Single Bidder
E-commerce
Private
Private Equity
Synopsis
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.
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