South Korean e-commerce giant Coupang files for U.S. IPO

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South Korean e-commerce giant Coupang files for U.S. IPO


Coupang Inc., the South Korean e-commerce giant, unveiled its filing for a U.S. initial public offering that is expected to be the largest from a foreign company since Alibaba Group Holding Ltd. ’s blockbuster 2014 debut.

The filing reveals a company growing at a rapid clip and with shrinking losses. It generated $12 billion in revenue in 2020, up from $6.3 billion in 2019, while its loss narrowed to $475 million from $699 million.

The Seoul company had already filed for the listing privately, as companies tend to do now, and it made the paperwork public Friday.

The offering, expected to garner a valuation exceeding $50 billion, could take place as soon as March, according to people familiar with the matter. Alibaba was valued at about $168 billion when it went public.

An expanded version of this article appears on WSJ.com.

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