Overview
Coupang, Inc. is a Seattle-headquartered technology and commerce company whose core business is online retail in South Korea. It sells products directly and operates a third-party marketplace, supported by delivery, grocery and fulfillment services. Its other offerings include restaurant delivery, video streaming, fintech, retail in Taiwan and the Farfetch luxury-fashion marketplace. Coupang’s stated mission is to “revolutionize the everyday lives” of its customers.[1][2][3][4][5]
Korea remains the center of its business: entities located there generated more than 90% of net revenue in 2025, although Coupang has operations and support functions across several other Asian countries and Europe. The company reported approximately $34.5 billion in 2025 net revenue and about 108,000 direct employees at year-end, most of them in Korea.[6][5][7][8] [1][2][3][4][5][6][7][8]
Products & services
Coupang’s retail products include its owned-inventory selection and goods sold by third-party merchants. Rocket Delivery offers free next-day delivery across millions of products in Korea, including orders placed shortly before midnight. Rocket Fresh extends its delivery network to fresh groceries, with dawn delivery available for eligible orders placed by midnight.[9][10][3]
For merchants, Coupang operates a marketplace and provides fulfillment and logistics services, including receiving, storing, picking, packing and shipping inventory; it also sells advertising associated with its commerce offerings. Its WOW membership bundles shopping benefits such as access to Rocket Fresh, delivery and return-shipping benefits, Coupang Eats discounts, and streaming. Coupang Eats delivers orders from independent restaurants, while Coupang Play provides online content streaming.[3][11][12][13][4]
Other offerings include Taiwan retail, fintech services and Farfetch, a global luxury-fashion marketplace. In 2025, Product Commerce generated $29.6 billion, or approximately 86% of revenue, while Developing Offerings—which includes Eats, Play, Taiwan retail and Farfetch—generated $4.9 billion, or approximately 14%. Coupang does not report revenue shares for those individual services.[4][14][15] [9][10][3][11][12][13][4][14][14][14][15]
Geographic presence
Coupang’s revenue is concentrated in Korea. In 2025, more than 90% of net revenue was attributed to Korea based on the location of the legal entity earning it. The remainder came primarily from entities in the United States, United Kingdom, Taiwan, and other countries in Europe and Asia-Pacific. This measure does not provide a country-by-country breakdown of customer sales. Coupang’s long-lived assets were also primarily in Korea; no other individual country accounted for more than 10% of those assets.[6]
Coupang reports operations and support services in the United States, Korea, Taiwan, Singapore, China, Japan, India, the United Kingdom, and other European countries. Its principal executive office is in Seattle, Washington, with additional office space in Korea, the United States, Europe, and Asia. It leases or owns more than 78 million square feet of fulfillment, logistics, and other operating space across Korea and Taiwan, as well as other parts of Asia and the United States.[16][17] [6][16][17]
Business segments
Coupang reports two operating and reportable segments: Product Commerce and Developing Offerings. Product Commerce comprises its Korean retail and third-party marketplace businesses, Rocket Fresh grocery delivery, and related advertising. Its revenue comes primarily from sales of owned inventory, marketplace commissions and logistics fees, and the WOW membership program.[18][3]
Developing Offerings includes Eats food delivery, Play streaming, fintech, Taiwan retail, related advertising, and Farfetch’s luxury fashion marketplace. Farfetch, Eats, and Taiwan retail are its principal revenue sources.[4] In 2025, Product Commerce generated $29.592 billion, or approximately 86% of consolidated net revenue; Developing Offerings generated $4.942 billion, or approximately 14%.[14] Coupang does not report separate revenue figures for the individual businesses within Developing Offerings.[4][14] [18][3][4][14][14][14]
Company history
Bom Kim founded Coupang in 2010. The company began as a daily-deals business before expanding into online retail; in 2014, it introduced Rocket Delivery, a service that became central to its logistics-led model.[19][20][21] In 2018, Coupang added Rocket Fresh grocery delivery and introduced its WOW membership program.[20]
Coupang subsequently expanded beyond retail delivery, launching food-delivery service Coupang Eats in 2019 and video-streaming service Coupang Play in 2020.[22][23] It listed on the New York Stock Exchange in March 2021 under the ticker CPNG, expanded delivery services in Taiwan in 2022, and completed the acquisition of luxury-fashion platform Farfetch’s business and assets in January 2024.[24][25][26] [27][28][19][20][21][22][23][24][25][26]
Sources
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