2024-05-13 06:36:32 ET
Summary
- Coupang's core business, Product Commerce, continues to show strong growth, increasing market share, and margin expansion.
- The Developing Offerings segment, including Farfetch, Coupang Eats, Coupang Play, and Taiwan, offers attractive opportunities for growth but weighs on EBITDA due to heavy investments.
- The valuation of CPNG is reasonable and attractive, with the core business alone potentially worth more than the current market cap.
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Coupang: eCommerce Dominance With Room To Grow