The investment, which is expected to close in June, 2015, ranks among SoftBanks largest of all time and would provide support for the standalone online retailing business, forbes.com reports. Following the round, Coupang will be valued at USD 5 billion, the source cites.
Coupang has emerged as South Korea’s dominant online retailer, controlling everything from the web buying experience to shipment logistics through its company-operated delivery trucks, the source cites. That has translated into a booming business that’s currently on track to sell USD 3 billion-worth of goods in 2015, though the company expects the final figure to be much higher. Tthe company sold USD 1.8 billion-worth of goods in 2014. Coupang raised USD 300 million in a round led by BlackRock, which valued the company at around USD 2.5 billion.
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