Coupang

Coupang operates a hybrid first-party retail and third-party marketplace model. It creates value by aggregating consumer demand, offering merchants access to that demand, and controlling key fulfilment and payment workflows to improve delivery speed and purchase convenience. This commerce activity then supports a higher-margin advertising layer, where sellers and brands pay for visibility inside the marketplace using self-serve retail media tools. Additional ecosystem services such as streaming, travel and payments deepen engagement and increase transaction frequency.

Coupang is a public commerce company operating an integrated retail and marketplace ecosystem built around online shopping, fulfilment, payments, advertising and selected consumer services. Its core business is selling goods directly to consumers and enabling third-party merchants and brands to sell through Coupang Marketplace, supported by proprietary logistics and fulfilment capabilities such as Rocket Delivery. The company also operates a self-serve retail media platform, Coupang Ads, which monetises shopper intent and first-party commerce data for sellers and brands.

Beyond core commerce, Coupang extends its ecosystem with payments, B2B procurement, streaming and travel services, increasing customer engagement and transaction frequency. Revenue is generated through first-party retail sales, marketplace commissions and seller fees, advertising spend, and related ecosystem services. Its primary paying customers are consumers buying through the platform, third-party merchants and brands using the marketplace and ad products, and corporate buyers using Coupang Biz.