2010:
- Coupang is founded by Bom Kim in Seoul, South Korea.
- The company starts as a daily deals website, offering discounted products and services to consumers.
2011:
- Coupang expands its offerings to include a wider range of products, transitioning into a full-fledged e-commerce platform.
- The company introduces its signature “Rocket Delivery” service, providing fast and reliable shipping to customers across South Korea.
2013:
- Coupang secures a $100 million investment from Sequoia Capital, one of the largest venture capital investments in South Korea at the time.
- The investment enables Coupang to further expand its operations and enhance its technology infrastructure.
2014:
- Coupang launches its mobile app, allowing customers to shop conveniently from their smartphones and tablets.
- The app quickly becomes popular among South Korean consumers, contributing to Coupang’s rapid growth and success.
2015:
- Coupang introduces its “Dawn Delivery” service, offering early morning delivery options for customers who place orders before midnight.
- The company continues to innovate in logistics and fulfillment to provide a superior shopping experience for its customers.
2018:
- Coupang achieves a milestone valuation of $9 billion, making it one of the most valuable private companies in South Korea.
- The company expands its reach beyond South Korea, exploring opportunities for international expansion and growth.
2019:
- Coupang launches its own private label brands, offering exclusive products to customers under the Coupang brand name.
- The move into private label products allows Coupang to differentiate itself from competitors and offer unique offerings to its customers.
2020:
- Coupang goes public on the New York Stock Exchange (NYSE) under the ticker symbol “CPNG,” raising over $4 billion in its initial public offering (IPO).
- The IPO marks a significant milestone for Coupang as it continues to expand its presence in the global e-commerce market.
Bio of Founder
Bom Kim: Bom Kim is the founder and CEO of Coupang, a leading e-commerce platform based in Seoul, South Korea. Born and raised in South Korea, Kim attended Harvard Business School before embarking on his entrepreneurial journey. He founded Coupang in 2010 with the vision of revolutionizing the e-commerce industry in South Korea and providing customers with a superior shopping experience. Under Kim’s leadership, Coupang has grown from a small startup to a multi-billion dollar company, known for its innovative technology, fast delivery, and customer-centric approach. Kim’s entrepreneurial spirit, strategic vision, and commitment to excellence have cemented Coupang’s position as a leader in the global e-commerce market.
FAQs for Sellers
1. What is Coupang’s Seller Platform? Coupang’s Seller Platform is a marketplace where third-party sellers can list and sell their products to Coupang’s customer base. Sellers have access to tools and resources to manage their listings, fulfill orders, and track performance.
2. How do I become a seller on Coupang? To become a seller on Coupang, you must apply through the seller registration process on the platform’s website. You will need to provide information about your business, including contact details, tax identification number, and bank account information. Once your application is approved, you can start listing your products for sale on Coupang’s marketplace.
3. What types of products can I sell on Coupang? According to Whensourcing.com, Coupang accepts a wide range of products across various categories, including electronics, fashion, beauty, home goods, and more. However, certain categories may be restricted or require approval from Coupang before sellers can list products for sale. It is important to review Coupang’s seller guidelines and policies before listing products on the platform.
4. What are the fees for selling on Coupang? Coupang charges sellers a commission on each sale made through the platform. The commission rates vary depending on the category of the product and other factors. In addition to commissions, sellers may also be subject to other fees, such as subscription fees for premium seller services or fulfillment fees for orders that are fulfilled by Coupang.
5. How does Coupang support sellers? Coupang offers a range of tools and services to support sellers on its platform. This includes access to seller dashboards and analytics to track performance, promotional opportunities to increase visibility and sales, and dedicated seller support teams to assist with any questions or issues that may arise. Additionally, Coupang provides resources and educational materials to help sellers succeed and grow their businesses on the platform.
