- Coupang is effectively the Amazon of South Korea.
- But South Korea, like other Asian markets, is not like the U.S. or Europe, in that one e-commerce company does not completely dominate in the way Amazon dominates.
- With this in mind, while we think Coupang should prove to be a great investment, our expectations are a bit tempered.
- That said, the company has been growing rapidly and recently announced its intentions to go to battle with the e-commerce giants of Southeast Asia, e.g., Sea Ltd., outside of South Korea.
- At $40/share, Coupang sports an ~$70B market cap on about $20B of forward 12-month revenues. In this light, I rate Coupang a buy, but not one I'm buying eagerly.
For further details see:
Coupang: The Amazon Of South Korea, But I'm Not Buying