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SoftBank to Invest $2 Billion in Korean E-Commerce Site Coupang

  • The deal is said to push Coupang’s valuation to $9 billion.
  • Coupang expects nearly $5 billion in revenue by year-end
Coleman's Tiger Global Is Taking $1 Billion SoftBank Stake
Photographer: Kiyoshi Ota/Bloomberg
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SoftBank Group Corp.’s Vision Fund will invest $2 billion in South Korea’s Coupang, giving the e-commerce giant funds to accelerate development of new shopping and delivery services.

Coupang, founded in 2010, is Korea’s largest online retailer, selling more than 120 million items from consumer electronics to food. The Seoul-based company says that half of Korea’s population has downloaded its mobile app.