Billionaire became the founder of the e-commerce giant from South Korea Coupang, which crossed the threshold of the New York Stock Exchange.
Coupang’s share jumped 41% in its trading debut, while its founder’s fortune now stands at $ 8.6 billion.
Coupang is often referred to as South Korea’s Amazon, according to the BBC. Although Coupang remains unprofitable, it saw its turnover double last year as the pandemic boosted online shopping.
Born in Seoul, Bom Kim moved to the United States when he was in high school and became a U.S. citizen.
After leaving his MBA at Harvard, returned to South Korea and founded Coupang in 2010, drawing inspiration from Groupon’s business model.
The company has significantly expanded its deliveries, offering one day delivery with Rocket Delivery service. At the same time, it invests in new markets, such as food delivery and streaming services.
Despite the company’s popularity, it has come under fire following reports of deaths of deliverers and other workers who allegedly work overtime.
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