What’s a few bodies on the path to a billion-dollar valuation?
South Korean e-commerce giant Coupang listed its shares on the New York Stock Exchange on Thursday making a multi-billionaire out of its founder Bom Kim.
Coupang’s US listing is the biggest by an Asian company since Alibaba in 2014. [It’s] share price rose 41% in its trading debut, which was the biggest US initial public offering (IPO) since Uber in 2019. Coupang is often referred to as the Amazon of South Korea.
Despite the company’s popularity, it has faced scrutiny after reports of several deaths among delivery and logistics employees who were allegedly overworked.
Sounds like they’re following the Amazon model to a tee.