South Korea group-buying Coupang sequoia $100 million financing, valuation to break the $1 billion


according to foreign media coverage of science and technology, South Korea’s most popular group-buying Coupang, announced today get up to $100 million from sequoia capital financing. In this round of financing, the formed only four years of entrepreneurial company, whose value is $1 billion into the club.

Coupang mock object is the ancestor of group company. It is special in its using star experience sharing, in order to let more people in the celebrity effect), become Coupang target customers.

sequoia capital chairman Michael Moritz said: “South Korea is the world’s electricity is one of the fastest growing market. And Coupang is South Korea’s pioneer in the field of electricity. And it is different, Coupang after rapid development at the same time, there are no signs of recession.”

last year, Coupang website commodity trading broke through $1 billion in total. Despite the company’s sales situation is not clear, however, reported that in 2012, the company has the balance of payments.

so far, Coupang totaling $160 million in financing. The financing of other investors include Greenoaks Capital Management, Rose Park ‘s Disruptive Innovation Fund and LaunchTime.

the company’s CEO Kim said that Bom Coupang will use a new round of funding to develop the mobile end and the same day delivery service.