SoftBank Invests $2 Billion in Coupang
22 November, 2018
Korea's biggest e-commerce company Coupang has secured a US$2 billion investment from Japan's SoftBank Vision Fund.
With the cash injection, Coupang said Tuesday it will accelerate new business in logistics and payment platforms.
This is SoftBank's second investment in Coupang after $1 billion in 2015. The new investment lifts Coupang's valuation to $9 billion, making it one of the most valuable start-ups in the country.
SoftBank said it decided to invest in Coupang again as it saw how fast the company is growing, and it is likely to be profitable in its core business in the near future.
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