Published On: Sat, Feb 13th, 2021

Coupang files for mega US IPO

Earlier today, South Korean e-commerce and smoothness hulk Coupang filed to go open in a United States. As a private company, Coupang has lifted billions, including collateral from American try collateral organisation Sequoia and Japanese telecom hulk SoftBank and a Vision Fund.

Coupang’s offering, entrance amidst a open entrance of a series of obvious record brands, will be a large affair. Its initial S-1 filing indicates that a IPO will lift collateral in a operation of $1 billion, distant incomparable than a $100 million placeholder that is some-more common.

But a company’s scale creates a lofty IPO fundraising goals reasonable. Coupang is huge, with revenues north of $10 billion in 2020 and in improving financial health as it scales. And a income expansion has accelerated.

Perhaps that explains because a association is reportedly targeting a gratefulness of $50 billion.

This afternoon, let’s puncture into a company’s chronological growth, a improving money upsurge and a squeezing losses. Coupang’s entrance will emanate a dash when it lands, so we owe it to ourselves to grok a numbers.

And as there are other e-commerce brands with a smoothness duty watchful in a wings to go open — Instacart comes to mind — how Coupang fares in a IPO matters for a good series of domestic startups and unicorns.

Coupang’s surging scale

The company’s expansion opposite a final half-decade is impressive. Observe a yearly income totals from 2016 by 2020:

  • 2016: $1.67 billion.
  • 2017: $2.4 billion (+43.7%).
  • 2018: $4.05 billion (+68.8%).
  • 2019: $6.27 billion (+54.8%).
  • 2020: $11.97 billion (+90.9%).

Sure, some of that 2020 expansion is COVID-19 related, though even holding that into account, Coupang’s income expansion is zero brief of fantastic. And what’s improved is that a association has cut a waste in new years:

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