Coupang

Coupang was founded in 2010 in Seoul, South Korea, as an e-commercee-commerce company. It has become a market leader for e-commerce in South Korea, and boasts of its ability to deliver products same day, and when products are ordered at midnight, they can be delivered by 7am7 am the next morning. The product catalog includes clothing, fashion accessories, sports equipment, kitchen utensils, books, stationery, pet supplies, amongand othersmore. Coupang also offers end-to-end fulfillment and last-mildelast-mile delivery services. Coupang has also developed a variety of services, such as Coupang Pay, which offers simplified on-platform payments,; Coupang Eats, which offers prepared foods,; and Coupang Play, which offers video streaming.

FoundedCoupang was founded by Bom Kim, who graduated from Harvard College and went on to Harvard Business School, before dropping out to pursue the founding of Coupang. Bom Kim's Coupang mimicked U.S.-based Amazon in that theby company workedworking to disrupt South Korea's online retail space through price competition (pricing their products below competitors) and investing in swift delivery systems. Similarly, Coupang invested in allowing users to return goods easily, including offering a service where users can leave a package on their doorstep for a delivery driver to retrieve in anthe event of a returned product.

Coupang built to profitability through these customer-centric principles, with the company's 2022 revenue of $20.6 billion from its "product commerce" division, which includes retail and grocery services. The e-commerce firm earns sales from its own stock of goods, fees from third-party sellers, and from its Coupang Eats and Coupang Play services. The company has grown its profitability fromby squeezing efficiencies out of its proprietary delivery infrastructure, including investments in robotics, such as automated vehicles to move through the company's fulfillment centers, and are capable of deliveryingdelivering 1,000-kilogram packages to sorters. These investments allowed Coupang to cut its workforce by up to 65 percent.

Coupang's main servicesservice areis the company's e-commerce shop, where it sells goods and services in a ragnerange of categories. This, includesincluding home goods, decor goods, apparel and beauty products, fresh food and grocery goods, sporting goods, electronics, everdayeveryday consumables, travel, restaurant orders and delivery, content streaming, and advertising. The company's e-commerce service is attractive to consumers because of the company's low prices relative to other e-commerce competitors, and, potentially more important, is the company's delivery options, which usesuse artificial intelligence and robotics to increase the speeds of its logistics while also promising rapid same-day or next morning delivery. Similar to other large e-commerce sites, Coupang also offers a global retail partner program, offeringwith a market for international brands whichthat wish to launch in the South KoreaKorean market.

Coupang's delivery service, known as Rocket Delivery, was launched in 2014. The delivery service is responsible for the same-day and dawn-delivery options, which Coupang has stressed as helping to meet the needs of theirits customers. The delivery system is controlled from end-to-end by Coupang, which allows the company to deliverydeliver over 85 percent of theirits orders without extra packaging to minimize the use of boxes and other wasteful packaging.

Rocket Delivery is in partpartially realized by the company's logistics network, which includes 200 warehouses spanning 20 million square feet across South Korea and Taiwan, and thea fleet of thousands of delivery drivers and trucks. The company has stated that 70 percent of Koreans live within ten minutes of a Coupang logistics center, which simplifies last-mile delivery. This has allowed the company to deliverydeliver 99.3 percent of orders within one day, with the company delivering 3.3 million items each day in 2021.

Launched in 2023, Coupang's Rocket Beauty offers customers a cataloguecatalog of high-end international and local beauty brands, including Estee Lauder, Mac, Bobby Brown, and Hera. The products are delivered through the Rocket Delivery service to ensure they are delivered within 24twenty-four hours of an order being made.

Similar to Amazon's Prime membership, WOW is a Coupang subscription service offered by Coupang whichthat offers various benefits to users, and offers Coupang a secured fixed income and improved profitability. The subscription costs a monthly fee of 4,900 won ($3.88 USD), and allows users to enjoy overnight delivery, 30-daythirty-day unconditional refunds, and unlimited access to Coupang's over-the-top (OTT) service. Among the benefits, free delivery of any item, regarldessregardless of price, has been the membershipsmembership's main attraction. Similarly, the membership offers hourly delivery of fresh groceries, and same-day or dawn delivery on non-fresh grocery items, as andwell offersas exclusive discounts to subscribers.

Rocket Fresh is a fresh grocery delivery service whichthat uses the Rocket Delivery network and cold-chain logistics to ship fresshfresh food to customers within hours of orderordering. This includes shipping fresh fruit, vegetables, and meat, amongand other grocery items, through the company's online store. The Rocket Fresh service also uses eco-friendly "Fresh" bags, which are reusable delivery bags insulated to keep grocerysgroceries cool. The service offers a pickup service of thefor beagbags, where the delivery driver will pick up an empty bag on the next delivery, toand haveclean theand bag cleanedsterilize and sterilizedit for reuse. The Fresh bags are part of Coupang's attempt at reducing packaging and creating closed-loop recycling systems.

Coupang Eats is a last-mile food delivery service. Similar to competitor services, Coupang Eats allows a customer to order food from a restaurant listed through theirits application, and a delivery person picks the order up and delivers it to the customer. Users can pay for the delivery in real time through the application as well, similar to other food delivery services.

Coupang Play is an over-the-top (OTT) service offered on mobile devices, tablet PCs, smart TVs, and in browserin-browser and offers a wide range of entertainment, including movies, television shows, news, live sports, and Coupang original series. The streaming service was able to get the exclusive broadcasting rights to the German professional football league Bundesliga and the second tier league Bundesliga 2 for the South Korean region. The streaming service also got the broadcasting rights to show the German Supercup and relegation play-off matches for the South Korean region. The strategic partnership was launched in part to continue to push the success of the streaming service, which was launched in December 2020.

Coupang Flex is a flexible work, or gig work, service which offersfor anyone over 18eighteen years old a chance to choose a date they want to work for Coupang delivery. Further, the service allows users a chance to choose how they want to work,; for example, they can choose whether they want to drive deliveries or assist with order picking. Coupang Flex workers can work approximately three to four hours while delivering 50fifty to 60sixty packages. According to Coupang Flex, users can sign up with their names, phone numbers, and location where they want to work, as well as whether theycanthey can drive, which has drawn some concern over how secure the service is.

Coupang Pay was launched initially as a payment gateway and payment system for the company's platform. However, since its launch, the service has expanded service to an easy payment system, which allowallows users to purchase items online by using only a password or biometric authentication; however, the Coupang Pay is developed to require neither a password ornor biometric authentication and allow for purchases automatically with a registered credit card. And inIn this, Coupang Pay is aiming to challenge Samsung Pay, Kakao Pay, and Naver Pay in the easy payment segment. Within a year of launching, Coupang Pay became the second easy pay service by use, behind only Naver Pay, with Coupang experiencing a settlement turnover at 25 trillion.

Following the launch of Coupang Pay, the company also announced its intention to extend theits financial services into offering loan and financing services. This inclusedincluded offering instalmentinstallment loans to small merchants and businesses.

Founded in 2010 in Seoul, South Korea, revenue has exceeded $5bn USD as of 2018. In 2016, Coupang secured $1bn in funding from SoftBank's New Vision fund at a $5bn valuation. It has become a market leader for e-commerce in South Korea, and boasts of its ability to deliver products ordered at midnight by 7am the next morning.

Coupang was founded in 2010 in Seoul, South Korea as an e-commerce company. It has become a market leader for e-commerce in South Korea, and boasts of its ability to deliver products same day and when products are ordered at midnight by 7am the next morning. The product catalog includes clothing, fashion accessories, sports equipment, kitchen utensils, books, stationery, pet supplies, among others. Coupang also offers end-to-end fulfillment and last-milde delivery services. Coupang has also developed a variety of services, such as Coupang Pay which offers simplified on-platform payments, Coupang Eats which offers prepared foods, and Coupang Play which offers video streaming.

Founded by Bom Kim, who graduated from Harvard College and went on to Harvard Business School, before dropping out to pursue the founding of Coupang. Bom Kim's Coupang mimicked U.S.-based Amazon in that the company worked to disrupt South Korea's online retail space through price competition (pricing their products below competitors) and investing in swift delivery systems. Similarly, Coupang invested in allowing users to return goods easily, including offering a service where users can leave a package on their doorstep for a delivery driver to retrieve in an event of a returned product.

Founded by Bom Kim, who graduated from Harvard College and went on to Harvard Business School, before dropping out to pursue Coupang. He is reported worth $950m according to Forbes, making him the 47th richest person in Korea as of 2018.

Coupang built to profitability through these customer-centric principles, with the company's 2022 revenue of $20.6 billion from its "product commerce" division, which includes retail and grocery services. The e-commerce firm earns sales from its own stock of goods, fees from third-party sellers, and from its Coupang Eats and Coupang Play services. The company has grown its profitability from squeezing efficiencies out of its proprietary delivery infrastructure, including investments in robotics such as automated vehicles to move through the company's fulfillment centers and capable of deliverying 1,000-kilogram packages to sorters. These investments allowed Coupang to cut its workforce by up to 65 percent.

Despite serving South Korea, Taiwan, and Japan, Bom Kim has stated that he sees Coupang as a U.S. company. Kim himself is a U.S. citizen, incorporated Coupang in Delaware, and trades the company's shares on the New York Stock Exchange, with offices and fulfillment centers in several countries, including the U.S.

Coupang made its market debut on the New York Stock Exchange through an IPO and began trading under the symbol "CPNG." The company's stock began trading at $63.50, and shares closed at $49.25, still above the company's target range of $32 to $34.

Coupang's main services are the company's e-commerce shop where it sells goods and services in a ragne of categories. This includes home goods, decor goods, apparel and beauty products, fresh food and grocery goods, sporting goods, electronics, everday consumables, travel, restaurant orders and delivery, content streaming, and advertising. The company's e-commerce service is attractive to consumers because of the company's low prices relative to other e-commerce competitors, and, potentially more important, is the company's delivery options, which uses artificial intelligence and robotics to increase the speeds of its logistics while also promising rapid same-day or next morning delivery. Similar to other large e-commerce sites, Coupang also offers a global retail partner program, offering a market for international brands which wish to launch in the South Korea market.

Coupang's delivery service, known as Rocket Delivery was launched in 2014. The delivery service is responsible for the same-day and dawn-delivery options which Coupang has stressed as helping to meet the needs of their customers. The delivery system is controlled from end-to-end by Coupang which allows the company to delivery over 85 percent of their orders without extra packaging to minimize the use of boxes and other wasteful packaging.

Rocket Delivery is in part realized by the company's logistics network which includes 200 warehouses spanning 20 million square feet across South Korea and Taiwan, and the fleet of thousands of delivery drivers and trucks. The company has stated that 70 percent of Koreans live within ten minutes of a Coupang logistics center which simplifies last-mile delivery. This has allowed the company to delivery 99.3 percent of orders within one day, with the company delivering 3.3 million items each day in 2021.

Launched in 2023, Coupang's Rocket Beauty offers customers a catalogue of high-end international and local beauty brands, including Estee Lauder, Mac, Bobby Brown, and Hera. The products are delivered through the Rocket Delivery service to ensure they are delivered within 24 hours of an order being made.

Similar to Amazon's Prime membership, WOW is a subscription service offered by Coupang which offers various benefits to users, and offers Coupang a secured fixed income and improved profitability. The subscription costs a monthly fee of 4,900 won ($3.88 USD), and allows users to enjoy overnight delivery, 30-day unconditional refunds, and unlimited access to Coupang's over-the-top (OTT) service. Among the benefits, free delivery of any item regarldess of price has been the memberships main attraction. Similarly, the membership offers hourly delivery of fresh groceries, and same-day or dawn delivery on non-fresh grocery items, and offers exclusive discounts to subscribers.

Rocket Fresh is a fresh grocery delivery service which uses the Rocket Delivery network and cold-chain logistics to ship fressh food to customers within hours of order. This includes shipping fresh fruit, vegetables, and meat, among other grocery items, through the company's online store. The Rocket Fresh service also uses eco-friendly "Fresh" bags, which are reusable delivery bags insulated to keep grocerys cool. The service offers pickup service of the beag, where the delivery driver will pick up an empty bag on the next delivery, to have the bag cleaned and sterilized for reuse. The Fresh bags are part of Coupang's attempt at reducing packaging and creating closed-loop recycling systems.

Coupang Eats is a last-mile food delivery service. Similar to competitor services, Coupang Eats allows a customer to order food from a restaurant listed through their application and a delivery person picks the order up and delivers it to the customer. Users can pay for the delivery in real time through the application as well, similar to other food delivery services.

Coupang Play is an over-the-top (OTT) service offered on mobile devices, tablet PCs, smart TVs, and in browser and offers a wide range of entertainment, including movies, television shows, news, live sports, and Coupang original series. The streaming service was able to get the exclusive broadcasting rights to the German professional football league Bundesliga and the second tier league Bundesliga 2 for the South Korean region. The streaming service also got the broadcasting rights to show the German Supercup and relegation play-off matches for the South Korean region. The strategic partnership was launched in part to continue to push the success of the streaming service which was launched in December 2020.

Coupang Flex is a flexible work, or gig work, service which offers anyone over 18 years old a chance to choose a date they want to work for Coupang delivery. Further, the service allows users a chance to choose how they want to work, for example whether they want to drive deliveries or assist with order picking. Coupang Flex workers can work approximately three to four hours while delivering 50 to 60 packages. According to Coupang Flex, users can sign up with their names, phone numbers, and location where they want to work, as well as whether theycan drive, which has drawn some concern over how secure the service is.

Coupang Pay was launched initially as a payment gateway and payment system for the company's platform. However, since its launch, the service has expanded service to an easy payment system which allow users to purchase items online by using only a password or biometric authentication; however, the Coupang Pay is developed to require neither password or biometric authentication and allow for purchases automatically with a registered credit card. And in this, Coupang Pay is aiming to challenge Samsung Pay, Kakao Pay, and Naver Pay in the easy payment segment. Within a year of launching, Coupang Pay became the second easy pay service by use, behind only Naver Pay, with Coupang experiencing a settlement turnover at 25 trillion.

Following the launch of Coupang Pay, the company also announced its intention to extend the financial services into offering loan and financing services. This inclused offering instalment loans to small merchants and businesses.

Founded by Bom Kim, who graduated from Harvard College and went on to Harvard Business School, before dropping out to pursue Coupang. He is reported worth $950m according to Forbes, making him the 47th richest person in Korea as of 2018.