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[NYT] Coupang, Korea’s Amazon, raises $300M

December 10, 2014

Bom Kim, CEO of Coupang (PRNewsFoto/Coupang)

Bom Kim, CEO of Coupang (PRNewsFoto/Coupang)

[THE NEW YORK TIMES] —  Coupang, a fast-growing e-commerce company in South Korea, has raised $300 million of additional financing to aid its expansion plans.

The latest financing round, coming after a $100 million round this spring, was led by BlackRock Private Equity Partners and includes participation from the Wellington Management Company, Coupang said on Wednesday. The backing from those institutional investors — BlackRock is the world’s largest asset manager — underscores Coupang’s maturity and its ambitions to one day be a publicly traded company.

For now, however, Coupang is content staying private. While Bom Kim, the chief executive, declined to disclose the company’s valuation, he said it was higher than the roughly $1 billion price tag the company achieved in its previous financing round. [READ MORE]