Coupang

The business model combines a first‑party retail operation with a third‑party marketplace, owned logistics and adjacent digital services. Value is created by aggregating demand from consumers and supply from merchants, then using proprietary logistics to provide fast, reliable delivery for general merchandise and groceries. The company layers services such as grocery fulfilment, restaurant delivery, digital payments, streaming video and membership benefits onto this core commerce and logistics stack.

It captures value from multiple sides: consumers pay for products, delivery (where applicable) and optional membership that bundles free/discounted delivery and streaming; merchants and restaurants pay commissions on transactions, logistics and fulfilment fees and spend on retail media ads to gain visibility. Payments infrastructure supports checkout and generates financial services income. Streaming and media properties monetise via subscriptions and content licensing, while logistics services create both internal efficiencies and external third‑party logistics revenue. The model relies on scale economies in fulfilment, dense delivery networks and cross‑selling of services across a large active customer base.

Coupang is a South Korea–centred e‑commerce and logistics company, legally headquartered in the United States and listed on the NYSE. It operates an online marketplace with tightly integrated warehousing, last‑mile delivery, grocery, restaurant delivery, video streaming, payments and logistics services. The firm controls much of its own fulfilment infrastructure to offer rapid delivery across general merchandise and groceries.

Revenue is generated mainly from online retail and third‑party marketplace transactions, logistics and fulfilment services, paid memberships that bundle delivery and media benefits, retail media advertising sold on a pay‑per‑click basis, digital payments, streaming subscriptions/licensing and food‑delivery commissions and fees. Its primary customers are consumers in South Korea and Taiwan, third‑party sellers and brands using its marketplace, and merchants and restaurants participating in its payments and food‑delivery platforms.