Kim Beomseok (Korean: 김범석; born October 7, 1978), known professionally in the West as Bom Kim, is a Korean-American businessman and entrepreneur who is the founder and chief executive officer of Coupang, the largest e-commerce company in South Korea.[2][3] In 2018, when SoftBank Vision Fund invested US$2 billion in Coupang, valuating the company at US$9 billion, Kim became the newest and second-youngest billionaire in South Korea at the age of 40. As of March 2023, Kim has a net worth of US$2.7 billion.[4]
Bom Kim | |
|---|---|
김범석 | |
 | |
| Born | October 7, 1978[1] |
| Nationality | American |
| Alma mater | Harvard University (BA) |
| Title | Founder & CEO of Coupang |
| Korean name | |
| Hangul | 김범석 |
| Revised Romanization | Kim Beomseok |
| McCune–Reischauer | Kim Pŏmsŏk |
Early life and education
editKim was born in Seoul, South Korea on October 7, 1978. At his age of 7, he and his family moved to the United States.[5] He went to Deerfield Academy, a boarding school in Massachusetts, where he was on the varsity wrestling and track teams.[6] He graduated from Harvard College with a Bachelor of Arts degree,[7] and attended Harvard Business School, dropping out in his second semester.[8]
Kim interned at The New Republic, started a student magazine, Current, and worked briefly at Boston Consulting Group prior to founding the magazine 02138, named for Harvard's ZIP Code. He raised $4 million to fund 02138 and started Coupang after it folded.[7][9]
Coupang
edit
Kim founded Coupang in 2010 and since then has gone on to raise more than $3.8 billion in venture capital from investors such as Sequoia Capital, Softbank, BlackRock, and others.[10][11]
It began as a Groupon-like website and now operates as an online retailer and operates a 24-hour logistics service called Rocket Delivery. It was reported in 2018 that Coupang would gross 2.7 trillion won in annual sales and lost 1.7 trillion won between 2015 and 2017 and maintains over 3.5 million daily active users as of 2019.[12]
The company currently employs over 40,000 people with offices in Seoul, Shanghai, Beijing, Los Angeles, Seattle and Silicon Valley.[13]
References
edit- ^ "김범석". www.businesspost.co.kr. Retrieved 14 December 2019.
- ^ Palmer, Annie (2020-06-16). "Coupang, a SoftBank-backed start-up, is crushing Amazon to become South Korea's biggest online retailer". CNBC. Retrieved 2020-07-05.
- ^ Chung, Gracs (2018-11-20). "Coupang, Korea's Answer to Amazon, Raises $2 Billion, Mints New Billionaire". Forbes. Retrieved 2021-06-08.
- ^ "Forbes Billionaires: Bom Kim". Forbes. Retrieved March 24, 2023.
{{cite magazine}}: Cite magazine requires|magazine=(help) - ^ "Coupang: Harvard dropout rockets into mega-billionaire's club". BBC News. 2021-03-12. Retrieved 2023-06-22.
- ^ "South Korea #6: An Exciting Visit with Bom Kim '96, CEO of Coupang". Deerfield Academy.
- ^ a b Mac, Ryan. "Coupang: The $5 Billion Startup Filling Amazon's Void In South Korea". Forbes.
- ^ "Bom Kim". Forbes.
- ^ Green, Dennis. "The CEO of 'the Amazon of South Korea' explains how canceling an IPO at the last minute and pivoting the company twice led it to become the country's top online retailer". Business Insider.
- ^ "Harvard Dropout's Startup Loses Billions in South Korea Battle". Bloomberg.com. 22 May 2018.
- ^ Merced, Michael J. de la (November 20, 2018). "Coupang, South Korean E-Commerce Start-up, Raises $2 Billion From SoftBank". The New York Times.
- ^ Jung-a, Song (January 2019). "Etailers battle to win 'Amazon of South Korea' crown". Financial Times. Retrieved 2023-06-17.
- ^ Herald, The Korea (November 19, 2017). "Coupang highlights creativity, openness in its new office". The Korea Herald.