Coupang preps for growth in new international markets

Jun. 15, 2021 11:19 AM ETCoupang, Inc. (CPNG)SFTBY, CPNGBy: Clark Schultz, SA News Editor3 Comments

Coupang headquarters in Silicon Valley
Sundry Photography/iStock Editorial via Getty Images

  • Coupang (CPNG -0.4%) is starting to recruit employees as it prepares for its push into Japan and Singapore.
  • The company is already offering its delivery service in Tokyo as a pilot project, but is reported to have bigger goals in mind. Sources say expansion into Malaysia is on Coupang's radar after Japan and Singapore.
  • Looking ahead, international markets are seen as key for the e-commerce retailer if it hopes to keep up a strong growth rate.
  • Japan-based SoftBank (OTCPK:SFTBY) owns about 33% of Coupang through its Vision Fund.
  • Coupang still trades above its IPO pricing level of $35, but is down sharply from its high mark. Coupang trades 6.48% lower than the 50-day moving average.

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