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markets e-commerce asia

SoftBank-Backed Coupang Reports Quarterly Loss

By
Wayne Ma
· · Source: Financial Times

Coupang, the South Korean e-commerce site backed by SoftBank, booked a loss of nearly $520 million in the quarter ended in June, the Financial Times reported. Shares of the company are down more than 30% since its initial public offering in March, and the decline threatens to erase some of the gains SoftBank reaped from Coupang’s IPO. The newspaper said Coupang reported a loss after a fire...

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