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Coupang, Inc. (symbol: CPNG) is the world’s fastest growing e-commerce company and is often referred to as South Korea’s answer to Amazon. Founded in 2010, Coupang has rapidly expanded, boasting over 20 million subscribers and an annual revenue run rate exceeding $2 billion. As the No. 1 player in mobile e-commerce in Korea, Coupang operates in a market with an enormous $50 billion opportunity.
The company offers a wide range of products, including apparel, electronics, footwear, food products, furniture, nutritional supplements, and more. Its business is divided into two main segments: Product Commerce and Developing Offerings. The Product Commerce segment, which generates the majority of the revenue, includes core retail (owned inventory) and marketplace offerings (third-party merchants) along with Rocket Fresh, Coupang's fresh grocery delivery service. The company also offers advertising products associated with these offerings.
In recent years, Coupang has attracted significant investment. In December 2014, it raised $300 million in an investment round led by BlackRock Private Equity Partners. This followed a $100 million investment five months earlier, led by Sequoia Capital Global Equities and Sequoia Heritage Venture Funds, which valued the company at over $1 billion.
Coupang is known for its innovative delivery infrastructure, including the Rocket Delivery service that offers same-day or next-day delivery to customers in South Korea. This service has set a new standard in the e-commerce industry, contributing to Coupang's dominant market position.
Beyond its core business operations, Coupang is continuously working on various projects to enhance customer experience and expand its market reach. The company's commitment to technological advancements and customer satisfaction has positioned it as a significant player in the global e-commerce landscape.
Coupang has appointed Jason Child, the Chief Financial Officer and Senior Vice President of Splunk, to its board of directors and member of the audit committee. This addition is expected to enhance Coupang's executive team with Child's extensive experience in financial and corporate leadership, including positions at Amazon and other rapidly-scaling companies. Child expressed enthusiasm about contributing to Coupang's growth and customer-focused mission, which has established a loyal customer base and impressive growth trajectory.
Coupang has appointed Pedro Franceschi, Co-Founder and Co-CEO of Brex, to its board of directors. This move is aimed at enhancing Coupang's customer-centric approach and technological innovations. Franceschi brings a wealth of experience, having co-founded financial services that cater to rapidly growing businesses. He expressed enthusiasm for joining Coupang, emphasizing the company's potential to reshape commerce and improve experiences for small businesses. Founded in 2010, Coupang is a leading eCommerce entity in Asia, known for its diverse services including rapid delivery and payment solutions.
Coupang, Inc. (NYSE: CPNG) reported Q4 2021 revenues of $5.1 billion, a 34% year-over-year increase. Active customers grew by 21%, with a total of 17.9 million. Gross profit rose 24% to $806 million. Despite these gains, the company faced a net loss of $405 million, significantly higher than the previous year's $83 million loss. The CFO indicated improvements in gross margin and ongoing strong revenue momentum into Q1 2022. Coupang will also implement a new financial reporting structure, focusing on Product Commerce and Growth Initiatives.
Coupang, Inc. (NYSE: CPNG) will announce its financial results for Q4 2021 on March 2, 2022, after U.S. market close. A live webcast will begin at 5:30 PM ET. The earnings release will be accessible on the Coupang Investor Relations website.
Coupang is one of Asia's largest e-commerce firms, offering services such as same-day delivery, Coupang Eats, and video streaming via Coupang Play, with offices in major cities including Seoul and Los Angeles.
Coupang, Inc. (NYSE: CPNG) reported third quarter 2021 results with total net revenues of $4.6 billion, a 48% year-over-year increase. Active customers grew 20% YoY, marking the 15th consecutive quarter of growth. The company expanded its gross margin by 130 basis points to 16.2% and increased gross profit by 62% YoY to $755 million. Notably, advertising revenue nearly tripled YoY. Coupang plans significant investments, including over KRW 1.5 trillion for new fulfillment centers, creating 13,000 jobs.
Coupang, Inc. (NYSE: CPNG) has rescheduled its third-quarter earnings announcement originally set for November 11, 2021, to November 12, 2021, prior to market opening. This decision is due to the U.S. Federal Holiday. The earnings release will be made available post 6:00 AM Eastern Time, with a webcast commencing at 7:00 AM Eastern Time. Coupang operates as one of Asia's largest e-commerce firms, providing services such as same-day grocery delivery, Coupang Eats, and Coupang Play for video streaming.
Coupang, Inc. (NYSE: CPNG) is set to release its financial results for Q3 2021 on November 11, 2021, after U.S. market close. The earnings release and a webcast will be available on the company's Investor Relations website at www.ir.aboutcoupang.com. The webcast will start at 6:00 PM ET. Coupang is one of Asia's largest e-commerce firms, offering services like same-day and next-morning delivery of groceries and merchandise, as well as food delivery through Coupang Eats and video streaming via Coupang Play.
Coupang has appointed Alex Wong as the new Head of Public Affairs, based in Washington D.C.. In this newly established role, Wong will manage public policy and U.S. government relations as Coupang expands its operations in Asia. His previous experience includes significant roles at the U.S. Department of State and advising notable senators. Coupang, which had a remarkable IPO this year, remains committed to transforming e-commerce and enhancing customer services.
Coupang has invested over $200 million in worker safety initiatives since 2020, adding 600+ safety employees. The introduction of Coupang Care, the first paid health promotion program in the logistics industry, has shown positive outcomes, with 60% of participants improving their health metrics in four weeks. The company prioritizes employee safety, especially during the recent heatwave, implementing additional cooling systems across logistics centers. Coupang maintains stringent COVID-19 measures, shutting down centers with positive cases to protect employees.
Coupang reported a remarkable 87% year-over-year sales growth for SMEs on its marketplace in Q2, contrasting with a 7% decline in total offline SME sales in Korea. This growth stems from Coupang's commitment to support small enterprises, which constitute 80% of its sellers. The company invested nearly $350 million this year to aid in their success. Moreover, Coupang accounted for 43% of all U.S. foreign direct investment into Korea in H1 2021, focusing on small businesses. The personalized support during the COVID-19 pandemic has significantly boosted sales for many partnered companies.
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