2 Things Investors Should Know About Recent IPO Coupang, the "Amazon of South Korea"
Coupang (NYSE: CPNG), South Korea's biggest e-commerce company, began trading on the New York Stock Exchange on March 11 through an IPO that raised $4.6 billion.
While Coupang is relatively unknown in the U.S., its IPO grabbed a lot of attention -- and for good reasons. For one, Coupang's debut was the biggest by a foreign company since Alibaba Group Holding's (NYSE: BABA) 2014 IPO. Like Alibaba, Coupang has serious backing from Japanese tech conglomerate SoftBank Group (OTC: SFTB.Y). With a 28.7% stake in Alibaba and a 35.1% stake in Coupang, SoftBank is the biggest investor in both companies.
There's no doubt that with Coupang, Softbank wants to crown another king of e-commerce. But can Coupang live up to the hype? Let's take a closer look.
Source Fool.com
