If you have been seeing a lot of Coupang delivery vehicles in Taiwan then there is a good reason behind that as well. Coupang CEO has revealed that they saw a much higher growth in their Taiwan business ever since launch compared to its business in other markets such as Korea. He also revealed that this is the reason why they are looking to invest even more in the Taiwan markets in the coming months. Coupang mentioned that “it will accelerate its investment in Taiwan after four straight quarter profits. Coupang was the most downloaded app in the second quarter of this year in Taiwan”. The company revealed that “it has set aside about $400 million this year to invest in Taiwan and its developing offering unit that operates noncore businesses”. Also, Coupang denied rumors that it is looking to enter the Indian markets which floated earlier this year and also amid the fact that its operations were ceased in Japan few months back.
During a conference call, Coupang’s CEO Bom Kim said, “Taiwan is another investment that is thus far exceeding our expectations,” “We have always believed that the transformational commerce experience we’ve enabled in Korea could delight customers around the world. We’re seeing this play out in Taiwan.” He added that “Coupang’s next-day delivery service, Rocket Delivery, grew faster in Taiwan in the ten months since it launched than Rocket Delivery in Korea did in the first ten months” He also told investors that “We’ve exited investments that didn’t meet our internal thresholds and deferred countless others that rank below our most attractive opportunities. So far, Taiwan is leaping over that bar. Given that progress, we will invest at a higher level in Taiwan this year.” and also mentioned that “Our bar for new initiatives is high,”
He also revealed that “Both revenue and active customers increased at a faster pace this quarter,” and added that “our emerging merchant services like advertising and Fulfillment and Logistics by Coupang, or FLC, are growing more than twice as fast as our overall business.” It is worth noting that Japan’s SoftBank backs Coupang.
