Coupang Expert Insight Interview (No Paywall)

Coupang Executive on Taiwan, growth opportunities, and risks

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Coupang is down over -35% from peak.

But gross profits are at an all-time high and are growing +20% y/y.

With $32bn in LTM revenues and a mature margin of 8%, they are currently trading at 15x mature margin earnings with a EV of $38bn (This sssumes they hit their 10% adjusted EBITDA target, and we layer in 2% of D&A and SBC. They already have 8.5% EBITDA margins in their Product Commerce Segment).

Coupang has executed quarter after quarter, so what is giving investors trepidation?

We talk to the Former VP of Strategy & Business at Coupang to understand all of the key risks and opportunities facing them. This is the only conversation with a Coupang executive that has touched on broader geographic ambitions (outside of Taiwan) and the detailed economics of the ecommerce business!

We cover:

• Coupang’s most important growth initiatives and business levers

• How Taiwan is trending—and whether it can ever rival the core South Korea business

• The opportunity (and challenges) of further geographic expansion

• The role of 1P vs. 3P economics in long-term margin structure

• The strategic and competitive risks investors may be underestimating

You can sign-up for this conversation for free in the link below!

The webinar will be today, Janaury 20th at 12pm EST/ 9am PST. If you miss this time, you can always watch it later after you sign-up.

Sign Up Here

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And for more on CPNG, check out our last recap on them here.

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*At the time of this writing, one or more contributors has a position in CPNG. Furthermore, accounts one or more contributors advise on may also have a position in CPNG. This may change without notice.