• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD

Coupang Shares Jump After Blockbuster I.P.O.

by

The stock of Coupang, a start-up in South Korea that is sometimes called the Amazon of South Korea, drifted after trading publicly for the first time in New York on Thursday.

Coupang — the company’s name is a mix of the English word “coupon” and “pang,” the Korean sound for hitting the jackpot — was founded by a Harvard Business School dropout and has shaken up shopping in South Korea, an industry long dominated by huge, button-down conglomerates.

The initial public offering raised $4.6 billion and valued Coupang at about $85 billion, the second-largest American tally for an Asian company after Alibaba Group of China in 2014. Coupang’s shares rose 6.6 percent on Friday as trading began, but fluctuated throughout the morning.

Coupang is South Korea’s biggest e-commerce retailer, its status further cemented by people stuck at home during the pandemic and those in the country who crave faster delivery. In a country where people are obsessed with “ppalli ppalli,” or getting things done quickly, Coupang has become a household name by offering “next-day” and even “same-day” and “dawn” delivery of groceries and millions of other items at no extra charge.

View Source

Filed Under: BUSINESS Tagged With: Alibaba Group Holding Ltd, Business, China, Coupang, Coupang Co Ltd, E-commerce, Industry, Initial Public Offerings, New York, South Korea, Stocks and Bonds

Primary Sidebar

More to See

What We Know About the Shooting in Highland Park

Chief Covelli said Mr. Crimo planned the shooting for several weeks, but that the authorities had not yet established what his motive was. “We have no … [Read More...] about What We Know About the Shooting in Highland Park

Kevin McKenzie and Martine van Hamel: On the Zen of Escaping City Life

Kevin McKenzie and Martine van Hamel were standing in the dining room of their weekend house in Woodstock, N.Y., trying to figure out when they got … [Read More...] about Kevin McKenzie and Martine van Hamel: On the Zen of Escaping City Life

Ford reports slight uptick in sales that misses analysts’ expectations

Electric Ford F-150 LightningAndrew Evers / CNBCDETROIT – Ford Motor on Tuesday reported a slight increase in second-quarter new vehicle sales that … [Read More...] about Ford reports slight uptick in sales that misses analysts’ expectations

Copyright © 2022 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy