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SoftBank doubles down on Korean online retailer Coupang with $2 billion investment: Reuters

Nov 20, 2018 - peHUB

SoftBank Group Corp’s Vision Fund is investing $2 billion in South Korea’s top e-commerce firm Coupang, the retailer said on Tuesday, as the loss-making startup girds for battle against rivals backed by the country’s cash-rich chaebol.

The latest investment follows the $1 billion that SoftBank invested in Coupang in 2015 and values the eight-year-old startup at around $9 billion, a source close to Coupang said.

Coupang has since grown rapidly to become a major player in the cou...