Korean e-commerce giant Coupang said on June 17 it ranked second on the CNBC Disruptor 50, a list of 50 private companies with the potential of becoming the “next generation of billion-dollar businesses,” as designated by the US broadcaster.
Coupang said it was included in the list in a first for a Korean company, and it also ranked in the highest position of any Asian company ever listed.
According to CNBC’s description, the 2020 CNBC Disruptors are “50 private companies at the epicenter of a changing world, poised to emerge from the pandemic as the next generation of billion-dollar businesses.”
A Coupang employee delivers fresh groceries in a reusable cool bag. (Coupang)
Companies such as Twitter, Xiaomi, Space X and Spotify have been chosen for the list over the past seven years, Coupang said.
In selecting the Korean company, CNBC highlighted its efforts to take early measures to gear up against the COVID-19 crisis.
“The company admits that the coronavirus created massive disruptions in supply, logistics and prices, but that it took bold steps early on,” CNBC described on its site.
“It was able to replenish supplies of face masks and hand sanitizer just as the virus began to spread, but Coupang froze prices so customers wouldn’t be adversely affected.”
Coupang operates various delivery services, including the Rocket Fresh service, which provides dawn overnight delivery of fresh groceries.
“Coupang customers are used to receiving products they want within couple of hours if they order before midnight. But that experience is envied by many overseas,” said Kim Bom-suk, CEO of Coupang.
“Coupang will continue to make investments to create more surprising experiences for the customers and for them to be used to such services.”
By Jo He-rim (firstname.lastname@example.org)