Coupang Raises $100 Million at Valuation Topping $1 Billion

South Korea’s shopping-deals site Coupang raised $100 million in a round that values it at more than $1 billion, signaling how investors are betting on international e-commerce growth.

Sequoia Capital Global Equities and Sequoia Heritage funds led the round, with participation from existing investors, the Seoul-based company said in a statement. The three-year-old Coupang, which goes by the corporate name Forward Ventures Co., exceeded $1 billion in gross merchandise volume last year with its deals on events and consumer goods.