Home / World News / SoftBank Group-backed Coupang reveals revenue surge ahead of US IPO

SoftBank Group-backed Coupang reveals revenue surge ahead of US IPO

In its filing, Coupang said 2020 total revenue jumped 91% to $11.97 billion from a year earlier, and net loss narrowed to $474.9 million from $698.8 million in the same period

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The online retailer is looking to cash in on investor appetite for high-growth tech stocks, at a time when the US IPO market is at its strongest in more than two decades

Reuters

2 min read Last Updated : Feb 12 2021 | 7:53 PM IST

South Korean e-commerce giant Coupang Inc, backed by SoftBank Group Corp, filed for an initial public offering on Friday, revealing rapid revenue growth and narrowing losses as it gears up for a stock market debut in the United States.

In its filing, Coupang said 2020 total revenue jumped 91% to $11.97 billion from a year earlier, and net loss narrowed to $474.9 million from $698.8 million in the same period.

The online retailer is looking to cash in on investor appetite for high-growth tech stocks, at a time when the US IPO market is at its strongest in more than

Topics : SoftBank

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