The Intrinsic Value Podcast - The Investor’s Podcast Network TIVP002: Coupang (CPNG): The Amazon of South Korea w/ Shawn O’Malley
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Jan 12, 2025 Discover the captivating rise of Coupang, known as the 'Amazon of South Korea.' Learn about its remarkable growth, with nearly half the population as active users. The discussion highlights Bom Kim's visionary leadership and innovative logistics, including lightning-fast deliveries. Dive into the company’s luxury e-commerce shift and challenges in Taiwan and Japan. Explore how its cash flow supports valuation and the competition from players like Temu and Alibaba. Will this transformative platform make it to an investment portfolio?
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Coupang's Market Penetration
- Coupang has captured nearly half of South Korea's population as active customers.
- E-commerce penetration is higher in South Korea than in the US, representing half of all retail sales.
Coupang's Founding and Early Investors
- Coupang's founder, Bom Kim, was inspired by Groupon's success.
- Early investors included Clayton Christensen, BlackRock, Sequoia, and SoftBank.
Coupang Play's Strategic Value
- Bom Kim, like Jeff Bezos, understands the unusual monetization potential of streaming services.
- Coupang Play, similar to Amazon Prime Video, drives engagement and sales on the core platform.
