• How 'the Amazon of South Korea' pivoted to dominate the country's online-shopping scene in just 4 years

    5 monthes ago - By Business Insider

    Coupang is the largest online shopping platform in South Korea, with sales totaling nearly $5 billion.
    It has been called "the Amazon of South Korea" for its dominant position in the country, but Coupang employs a different model from its US counterpart.
    The company canceled an IPO four years ago in order to pivot to a completely different business model, which has seen success today.
    It recently received an extra $2 billion in capital investment from SoftBank's Vision Fund to expand that model.
    Even with all of its success, the company has racked up losses.
    CEO Bom Kim discussed how the...
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