South Korean e-commerce giant Coupang reported a 23% revenue increase to $6.6bn in Q4, surpassing expectations, and posted its first net income.

South Korean e-commerce giant Coupang reported a 23% increase in revenue to $6.6bn in Q4, surpassing analyst expectations and marking the company's fastest growth since 2021. Its loyalty program, similar to Amazon's Prime, helped retain customers, leading to a 16% increase in active users to over 21 million. Coupang posted its first net income since its foundation in 2010 and plans to expand into markets such as Taiwan, having recently acquired UK-based Farfetch Holdings.

February 27, 2024
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