Categories South Korea

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From pickup basketball to market domination: My wild ride with Coupang

Ben Sun Contributor Share on Twitter Ben Sun is co-founder and general partner at Primary Venture Partners, a seed-stage VC firm based in NYC. A month ago, Coupang arrived on Wall Street with a bang. The South Korean e-commerce giant — buoyed by $12 billion in 2020 revenue — raised […]

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Coupang may raise up to $3.6 billion in its IPO, at a potential valuation of $51 billion

According to an amended S-1 filing, South Korean e-commerce leader Coupang expects to price its initial public offering between $27 to $30 per share, potentially raising up to $3.6 billion. After the IPO, Coupang will have a total of 1.7 billion shares outstanding, including Class A and Class B. This […]

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How Roblox’s creator accelerator helps the gaming giant build new platform opportunities

As Roblox eyes what could be a historic debut on public markets in the coming months, investors who have valued the company at $29.5 billion are certainly eyeing the gaming company’s dedicated and youthful user base — but it’s the 7 million active creators and developers on the Roblox platform […]

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Samsung vice chairman Jay Y. Lee sent back to prison in bribery case

Samsung Electronics vice chairman Jay Y. Lee is back in prison following a retrial of his 2017 conviction in a bribery case that helped lead to the downfall of former South Korean president Park Guen-hye. The Seoul High Court sentenced Lee to 30 months on Monday. Lee was originally convicted […]

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Shares of Hyundai Motors Co. climb more than 20% on potential EV deal with Apple

Hyundai Motor Company is downplaying reports that it is in talks with Apple to produce an autonomous electric vehicle, stating that discussions are still in the “early stage” and still undecided. But the news of a potential tie-up (however tentative) with Apple, which is known for keeping a tight lid […]

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Samsung vice chairman Jay Y. Lee faces nine-year sentence in bribery case

Samsung Electronics vice chairman Jay Y. Lee faces a nine-year prison term in the bribery case that contributed to the downfall of former president Park Guen-hye. Prosecutors argued that the length of the sentence is warranted because of Samsung’s power as the largest chaebol, or family-owned conglomerate, in South Korea. […]

Google expands its cloud with new regions in Chile, Germany and Saudi Arabia

It’s been a busy year of expansion for the large cloud providers, with AWS, Azure and Google aggressively expanding their data center presence around the world. To cap off the year, Google Cloud today announced a new set of cloud regions, which will go live in the coming months and […]

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Seoul-based payment tech startup CHAI gets $60 million from Hanhwa, SoftBank Ventures Asia

Demand for contactless payments and e-commerce has grown in South Korea during the COVID-19 pandemic. This is good news for payment service operators, but the market is very fragmented, so adding payment options is a time-consuming process for many merchants. CHAI wants to fix this with an API that enables […]

Tencent leads $100M Series B funding round into China-based esport provider VSPN

Further confirmation that the esports market is booming amid the pandemic comes today with the news that esports ‘total solutions provider’ VSPN (Versus Programming Network) has raised what it describes as ‘close to’ $100 million in a Series B funding round, led by Tencent Holdings . Other investors that participated […]