Sequoia Backs Coupang With $100 Million

Coupang, South Korea’s answer to Amazon, has raised $100 million in a round of financing led by Sequoia Capital.

The investment led by Sequoia chairman Mike Moritz adds one of Asia’s fastest-growing and most valuable startups to Sequoia Capital’s already impressive roster of Asian deals. According to one person with knowledge of the deal, the new investment values Coupang at well over $1 billion.

Founded three years ago by Harvard Business School dropout Bom Kim, Coupang now has over $1 billion in sales — a milestone it reached faster than any other Asian e-commerce company.

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