Tan Chin Hwee Single Family Office Will Profit from Coupang IPO

Tan Chin Hwee Single Family Office Might Profit from Coupang IPO

The single family office of Tan Chin Hwee was an early investor in South Korean e-commerce platform Coupang. The platform’s upcoming $50BN IPO might bring in massive profits for the family office.

Coupang: South Korean e-commerce leader

In 2010, Coupang was founded by Kim Beom-Seok as a South Korean online marketplace. The company has been growing ever since and is now one of the most important e-commerce companies in South Korea and Asia. In its IPO prospectus, Coupang states net revenues in the amount of $12BN for 2020, which represents a doubling year-over-year. The firm is also leading in food delivery and started ventures in the fintech vertical. In June 2015, Coupang was valued at $5BN after an $1BN investment by SoftBank. Now, it intends to go public on the New York Stock Exchange, with a valuation of $50BN.

Tan Chin Hwee Single Family Office from Singapore

An early investor was the Singapore single family office of Tan Chin Hwee. Mr. Tan is the CEO of Trafigura Asia-Pacific, but the exact date of his investment stays undisclosed. Nevertheless, by reaching a $50BN valuation at Coupang’s IPO profits for early investors will be significant. Through his personal family office, Tan Chin Hwee is an active venture investor.

Source: Straitstimes, 28.02.2021
Picture Source: Mark König

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