Korean ecommerce site Coupang raises $300M just months after last funding round

Coupang, the South Korean ecommerce company that serves as the country’s online destination for anything, announced late last night that it raised US$300 million in funding from Blackrock Private Equity Partners and others. This news comes just months after the company revealed it closed a US$100 million round led by Sequioa Capital Global Equities and Sequoia Heritage.

According to TechCrunch, the company will use the funding to improve its logistics infrastructure and mobile experience. Mobile purchases generate 70 percent of the company’s revenue, and 80 percent of its traffic comes from its mobile properties. In the realm of delivery, it’s refining its same-day delivery service, and growing out its in-house fleet of vehicles, fulfillment centers, and “Coupang men.”

Korea has seen two other homegrown startups receive big funding rounds within the past month. Yello Mobile, an umbrella company that acquires mobile startups across different verticals, raised US$100 million from Formation 8. Meanwhile, game developer 4:33 Creative Labs raised a sum believed to be above US$100 million from Tencent and Line Corp.

See: Korea’s Yello Mobile secures $100M investment

Editing by Paul Bischoff; top image by ekodimus