Coupang is an e-commerce company headquartered in Seoul, South Korea, which was founded by Bom Kim in 20 10. Its product categories include electronic products, beauty products, tourism and cultural activities planning. , pay attention to the user experience, pay attention to the timeliness of distribution and return.
On March 3, 2022, Coupang released the 20021fourth quarter financial report. The financial report shows that as of June 3 1 day, the sales in the fourth quarter was $5 1 billion, the active customers increased by 2 1%, and the net loss was $405 million.
The word Coupang sounds like Groupon, an American group buying website. After 20 10 dropped out of Harvard Business School, Coupang founder Jin Bo returned to South Korea with $2 million from an American investor, just to set up a Groupon-like group buying website. At that time, he thought that the biggest constraint of e-commerce was the delivery time of goods. In such a small place as Korea, distribution is easy to solve. In addition, Koreans enjoy the fastest broadband service in the world, and two-thirds of them have smart phones. Copying a Groupon in Korea should not be a problem.
In fact, in the beginning, Coupang, like Groupon, provided discount coupons for restaurants, hydrotherapy massages and other businesses. But later, you will find that Coupang sells everything, including fresh cherries, Samsung mobile phones, underwear, used cars and even equipment to remove navel hair. Groupon in the United States prospered because of low-cost services, but it was also scrapped because of low-cost services, and its business model was unsustainable. On the other hand, Coupang has completed a gorgeous transformation and turned to online sales of physical goods.
Jin Bo said: "Our business model is very different from Groupon and closer to Amazon." Indeed, Coupang has been committed to investing in warehousing and flash purchase business, and has been trying to shorten the delivery time. At present, most goods can be delivered the next day or even the same day. The important content of this round of financing use is also warehousing construction and development of today's business. Another direction of spending money is to develop mobile services.
Other conditions of library help include: 20 12, the company achieved balance of payments; In 20 13 years, the total merchandise transactions on the website exceeded 10 billion USD, and * * * completed financing10.6 billion USD. Other investors in this round of financing include Greenoaks Capital Management, Rose Parks Disruptive Innovation Fund and LaunchTime.