Coupang, a Seoul, Korea-based e-commerce company that offers a curated selection of diverse merchandise, raised $100m in financing.
The round was led by Sequoia Capital Global Equities and Sequoia Heritage, with participation from existing investors Greenoaks Capital Management, Rose Park’s Disruptive Innovation Fund and LaunchTime.
The company intends to use the funds to continue to expand operations.
Founded in 2010 by and Richard Song, CFO, and Bom Kim, Founder, CEO and Chairman, Coupang sells a curated selection of diverse goods ranging from fashion to produce including baby goods, fashion, beauty products, consumables, home goods and decor, books and toys, sporting goods, electronics, and tickets for travel and cultural events.
In 2013, its third full year in operation, the company exceeded $1 billion USD in annual gross merchandise volume.