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lowjiaying

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2021-03-30

Hmm

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2021-03-26

Cool

If You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote>

2021-03-20

Alright

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2021-03-17

Nice

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2021-03-17

Damn

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2021-03-15

🙏🏻🥳

Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote>

2021-03-11

I see

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2021-03-10

Cool

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2021-03-03

[微笑]

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2021-03-01

Cool

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2021-02-27

Wow

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2021-02-25

O

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2021-02-25

Wow

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2021-02-10

Interesting

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2021-02-10

cool

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11:07","market":"us","language":"en","title":"If You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194064603","media":"fool","summary":"There have been a lot of compelling new stocks hitting the market over the past year. 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Unity Software -- Down 47%</p><p><blockquote>1.Unity软件——下跌47%</blockquote></p><p> The game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.</p><p><blockquote>游戏正在Unity软件公司进行。基于云的实时3D内容创作平台最初受到游戏开发商的欢迎，但更广泛的网络已经抛向好莱坞工作室、建筑师、工程师和平面设计师。客户群正在扩大，Unity有几个收入来源来充分利用其新发现的受欢迎程度。</blockquote></p><p> Unity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.</p><p><blockquote>团结对生意没有坏处。去年营收增长43%，其中2月份第四季度报告同比增长39%。顾客也离得很近。Unity以美元为基础的净增长率（衡量客户参与度的软件即服务(SaaS)股票的流行指标）在过去一年中从133%增长到138%。换句话说，平均回头客在Unity平台上的支出比一年前增加了38%。</blockquote></p><p> 2. fuboTV -- Down 57%</p><p><blockquote>2.fuboTV——下跌57%</blockquote></p><p> Folks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.</p><p><blockquote>人们正在切断联系，直播电视流媒体服务正在迅速增长，作为填补渴望直播体育和网络节目的人们的数字空白的一种方式。这个利基市场中增长最快的玩家是fuboTV。</blockquote></p><p> Its customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.</p><p><blockquote>过去一年，其客户数量增长了73%。虽然它不是这里的老大，但其547,880名客户在订阅和快速增长的广告收入之间每月产生近70美元的收入。</blockquote></p><p> FuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.</p><p><blockquote>富波电视希望今年将其“体育第一”的市场定位货币化。它将在今年夏天为观众推出一个梦幻体育平台，并预计在第四季度推出在线体育书籍。尽管该公司正在加速增长，而且上调指引的历史也很短，但自三个月前达到顶峰以来，这是名单上唯一一家实际上已经放弃了一半以上价值的公司。</blockquote></p><p> 3. Lemonade -- Down 53%</p><p><blockquote>3.柠檬水——下跌53%</blockquote></p><p> Lemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.</p><p><blockquote>柠檬可能会让你皱起眉头，看到柠檬水股票回吐近一半峰值涨幅的投资者可能也有同感。这家高科技且具有潜在颠覆性的保险公司仍然是一个值得啜饮的名字。Lemonade重塑了保险购物和索赔报告体验。它依靠人工智能聊天机器人来提供报价，索赔过程有时也可以以同样的方式完成。</blockquote></p><p> Lemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.</p><p><blockquote>Lemonade最初是作为租房者和房主的平台推出的，但最近推出了针对宠物主人的政策。消费者——主要是年轻租房者和首次购房者——正涌向柠檬水。过去一年，其活跃保单增长了56%，目前为100万个账户提供服务。过去一年，每个账户支付的保费平均增长了20%，其毛损失率随着平台的可扩展性而不断提高。</blockquote></p><p> Unity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.</p><p><blockquote>Unity Software、fuboTV和Lemonade的股价必须上涨大约一倍才能回到之前的高点。他们可能不会全部到达那里，但这是一个机会时机，可以考虑将这三位倒下的IPO天使中的一位添加到您的观察名单中。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>If You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-03-26 11:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There have been a lot of compelling new stocks hitting the market over the past year. They may have hit the ground running, but initial public offerings (IPOs) have been among the hardest-hit names during the recent correction for growth stocks.</p><p><blockquote>过去一年，市场上出现了许多引人注目的新股。它们可能已经起步，但在最近成长型股票的调整中，首次公开募股（IPO）一直是受打击最严重的股票之一。</blockquote></p><p> <b>Unity Software</b>,<b>fuboTV</b>, and<b>Lemonade</b>are three fast-growing companies that went public over the past year. They were all hot rookies early in their publicly traded tenure but have sold off sharply in recent weeks. Let's see why these three stocks that have been roughly cut in half as of Wednesday's market close since peaking deserve your due diligence.</p><p><blockquote><b>Unity软件</b>,<b>富波电视</b>，和<b>柠檬汽水</b>是过去一年上市的三家快速增长的公司。它们在上市初期都是炙手可热的新秀，但最近几周大幅抛售。让我们看看为什么这三只自见顶以来截至周三收盘已大致腰斩的股票值得您进行尽职调查。</blockquote></p><p> 1. Unity Software -- Down 47%</p><p><blockquote>1.Unity软件——下跌47%</blockquote></p><p> The game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.</p><p><blockquote>游戏正在Unity软件公司进行。基于云的实时3D内容创作平台最初受到游戏开发商的欢迎，但更广泛的网络已经抛向好莱坞工作室、建筑师、工程师和平面设计师。客户群正在扩大，Unity有几个收入来源来充分利用其新发现的受欢迎程度。</blockquote></p><p> Unity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.</p><p><blockquote>团结对生意没有坏处。去年营收增长43%，其中2月份第四季度报告同比增长39%。顾客也离得很近。Unity以美元为基础的净增长率（衡量客户参与度的软件即服务(SaaS)股票的流行指标）在过去一年中从133%增长到138%。换句话说，平均回头客在Unity平台上的支出比一年前增加了38%。</blockquote></p><p> 2. fuboTV -- Down 57%</p><p><blockquote>2.fuboTV——下跌57%</blockquote></p><p> Folks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.</p><p><blockquote>人们正在切断联系，直播电视流媒体服务正在迅速增长，作为填补渴望直播体育和网络节目的人们的数字空白的一种方式。这个利基市场中增长最快的玩家是fuboTV。</blockquote></p><p> Its customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.</p><p><blockquote>过去一年，其客户数量增长了73%。虽然它不是这里的老大，但其547,880名客户在订阅和快速增长的广告收入之间每月产生近70美元的收入。</blockquote></p><p> FuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.</p><p><blockquote>富波电视希望今年将其“体育第一”的市场定位货币化。它将在今年夏天为观众推出一个梦幻体育平台，并预计在第四季度推出在线体育书籍。尽管该公司正在加速增长，而且上调指引的历史也很短，但自三个月前达到顶峰以来，这是名单上唯一一家实际上已经放弃了一半以上价值的公司。</blockquote></p><p> 3. Lemonade -- Down 53%</p><p><blockquote>3.柠檬水——下跌53%</blockquote></p><p> Lemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.</p><p><blockquote>柠檬可能会让你皱起眉头，看到柠檬水股票回吐近一半峰值涨幅的投资者可能也有同感。这家高科技且具有潜在颠覆性的保险公司仍然是一个值得啜饮的名字。Lemonade重塑了保险购物和索赔报告体验。它依靠人工智能聊天机器人来提供报价，索赔过程有时也可以以同样的方式完成。</blockquote></p><p> Lemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.</p><p><blockquote>Lemonade最初是作为租房者和房主的平台推出的，但最近推出了针对宠物主人的政策。消费者——主要是年轻租房者和首次购房者——正涌向柠檬水。过去一年，其活跃保单增长了56%，目前为100万个账户提供服务。过去一年，每个账户支付的保费平均增长了20%，其毛损失率随着平台的可扩展性而不断提高。</blockquote></p><p> Unity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.</p><p><blockquote>Unity Software、fuboTV和Lemonade的股价必须上涨大约一倍才能回到之前的高点。他们可能不会全部到达那里，但这是一个机会时机，可以考虑将这三位倒下的IPO天使中的一位添加到您的观察名单中。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/25/if-you-liked-these-ipos-before-youll-love-them-at/\">fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/25/if-you-liked-these-ipos-before-youll-love-them-at/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194064603","content_text":"There have been a lot of compelling new stocks hitting the market over the past year. They may have hit the ground running, but initial public offerings (IPOs) have been among the hardest-hit names during the recent correction for growth stocks.\nUnity Software,fuboTV, andLemonadeare three fast-growing companies that went public over the past year. They were all hot rookies early in their publicly traded tenure but have sold off sharply in recent weeks. Let's see why these three stocks that have been roughly cut in half as of Wednesday's market close since peaking deserve your due diligence.\n1. Unity Software -- Down 47%\nThe game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.\nUnity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.\n2. fuboTV -- Down 57%\nFolks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.\nIts customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.\nFuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.\n3. Lemonade -- Down 53%\nLemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.\nLemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.\nUnity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350824569,"gmtCreate":1616191202851,"gmtModify":1634526831235,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Alright","listText":"Alright","text":"Alright","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/350824569","repostId":"1136440314","repostType":4,"isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324880239,"gmtCreate":1615982394921,"gmtModify":1703495883299,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324880239","repostId":"1133475246","repostType":4,"isVote":1,"tweetType":1,"viewCount":1146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325480625,"gmtCreate":1615912700767,"gmtModify":1703495028929,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Damn","listText":"Damn","text":"Damn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325480625","repostId":"1137226701","repostType":4,"isVote":1,"tweetType":1,"viewCount":1663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322113786,"gmtCreate":1615782241245,"gmtModify":1703492868820,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"🙏🏻🥳","listText":"🙏🏻🥳","text":"🙏🏻🥳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322113786","repostId":"1139451069","repostType":4,"repost":{"id":"1139451069","kind":"news","pubTimestamp":1615777682,"share":"https://www.laohu8.com/m/news/1139451069?lang=zh_CN&edition=full","pubTime":"2021-03-15 11:08","market":"us","language":"en","title":"Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139451069","media":"Barrons","summary":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in So","content":"<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，就越想搬到首尔。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以惊人的方式上市。它现在是该国第二大上市公司，仅次于三星电子。这是自2014年阿里巴巴集团控股以来外国发行人在美国最大规模的首次公开募股，也是自2019年优步科技以来美国最大规模的新股发行。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang由哈佛商学院辍学生Bom Kim于2010年创立，现已成为韩国经济中的一股巨大力量。该公司占该国消费者商业的4%，拥有广泛的在线零售服务：ThinkAmazon.com<i>加</i>Instacart、DoorDash和Netflix.Coupang拥有约50,000名员工，预计到2025年将再雇用50,000名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它拥有重要的地理优势。韩国是一个精通技术、密度过高、人口超过5000万的国家。埃里克·金(Eric Kim)于2011年至2017年担任Coupang董事会成员，同时也是该公司投资者Maverick Capital的董事总经理，他指出，韩国的陆地面积与印第安纳州大致相同，但人口几乎是印第安纳州的10倍。他补充道，除去不适合居住的山区，所有这些人都被挤在一个相当于罗德岛州大小的地区。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使Coupang反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang表示，70%的韩国人居住在其配送中心之一7英里范围内。几乎任何东西都可以当天订购，“黎明送货”保证午夜前订购的商品在早上7点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。（让我们看看你怎么做，亚马逊。）该公司市场领先的在线杂货服务Coupang Fresh用可重复使用的容器运送货物——将它们放在门口，然后由Coupang的15,000名送货人员中的一名迅速带走以供重复使用。退货？把它们放在门外——不需要特殊的包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年收入为120亿美元，比上一年增长91%，疫情帮助其从2019年的55%和2018年的69%加速增长。过去四个季度每个季度的增长率都在90%以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司已接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang去年的利润率为负2.1%，而前年为负8.8%。这反映了保护工人免受疫情影响的一些不寻常成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为63.50美元，使该公司市值达到1140亿美元。该股随后走低，周四收于每股略低于50美元，估值略低于900亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang的股价并不便宜——eBay(EBAY)的收入相当，但市值还不到一半。根据过去12个月的销售额，该股的交易价格略高于阿里巴巴-SW(BABA)。但Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。阿里巴巴的增长率还不到Coupang的一半。Coupang也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和Coupang的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018年，软银愿景基金（该公司成立于2016年的1000亿美元风险投资组合）在一项由愿景基金高管、现任Coupang董事会成员的莉迪亚·杰特(Lydia Jett)牵头的交易中又投资了20亿美元。最初的投资被转入愿景基金，总赌注为27亿美元。这些股份现在价值300亿美元。这是一场巨大的胜利，也可能是女性风险投资者主导的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银在此次发行中没有出售任何股票<i>巴伦周刊</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在最初投资20多年后，软银仍然是阿里巴巴-SW最大的单一持有者。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“我们准备长期持有Coupang，”杰特说。“5000亿美元的零售市场还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中发挥的作用如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。佛罗里达大学商学院（University of Florida business school）研究IPO市场的教授杰伊·里特（Jay Ritter）表示，只有六家韩国科技公司在美国市场上市，都是从1999年到2006年。这份名单实际上包括Gmarket，这是一家电子商务公司，于2006年上市，并于2009年被eBay以12亿美元收购。EBay宣布正在为其韩国业务寻找买家。韩国最著名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>Jett认为Coupang交易将成为韩国风险投资市场的转折点。她说，人们有一种误解，认为韩国科技公司不够创新。“那扇门现在已经被吹掉了，”她说。“这将改变韩国企业的融资方式。这只是一个开始。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-15 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，就越想搬到首尔。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以惊人的方式上市。它现在是该国第二大上市公司，仅次于三星电子。这是自2014年阿里巴巴集团控股以来外国发行人在美国最大规模的首次公开募股，也是自2019年优步科技以来美国最大规模的新股发行。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang由哈佛商学院辍学生Bom Kim于2010年创立，现已成为韩国经济中的一股巨大力量。该公司占该国消费者商业的4%，拥有广泛的在线零售服务：ThinkAmazon.com<i>加</i>Instacart、DoorDash和Netflix.Coupang拥有约50,000名员工，预计到2025年将再雇用50,000名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它拥有重要的地理优势。韩国是一个精通技术、密度过高、人口超过5000万的国家。埃里克·金(Eric Kim)于2011年至2017年担任Coupang董事会成员，同时也是该公司投资者Maverick Capital的董事总经理，他指出，韩国的陆地面积与印第安纳州大致相同，但人口几乎是印第安纳州的10倍。他补充道，除去不适合居住的山区，所有这些人都被挤在一个相当于罗德岛州大小的地区。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使Coupang反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang表示，70%的韩国人居住在其配送中心之一7英里范围内。几乎任何东西都可以当天订购，“黎明送货”保证午夜前订购的商品在早上7点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。（让我们看看你怎么做，亚马逊。）该公司市场领先的在线杂货服务Coupang Fresh用可重复使用的容器运送货物——将它们放在门口，然后由Coupang的15,000名送货人员中的一名迅速带走以供重复使用。退货？把它们放在门外——不需要特殊的包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年收入为120亿美元，比上一年增长91%，疫情帮助其从2019年的55%和2018年的69%加速增长。过去四个季度每个季度的增长率都在90%以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司已接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang去年的利润率为负2.1%，而前年为负8.8%。这反映了保护工人免受疫情影响的一些不寻常成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为63.50美元，使该公司市值达到1140亿美元。该股随后走低，周四收于每股略低于50美元，估值略低于900亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang的股价并不便宜——eBay(EBAY)的收入相当，但市值还不到一半。根据过去12个月的销售额，该股的交易价格略高于阿里巴巴-SW(BABA)。但Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。阿里巴巴的增长率还不到Coupang的一半。Coupang也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和Coupang的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018年，软银愿景基金（该公司成立于2016年的1000亿美元风险投资组合）在一项由愿景基金高管、现任Coupang董事会成员的莉迪亚·杰特(Lydia Jett)牵头的交易中又投资了20亿美元。最初的投资被转入愿景基金，总赌注为27亿美元。这些股份现在价值300亿美元。这是一场巨大的胜利，也可能是女性风险投资者主导的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银在此次发行中没有出售任何股票<i>巴伦周刊</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在最初投资20多年后，软银仍然是阿里巴巴-SW最大的单一持有者。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“我们准备长期持有Coupang，”杰特说。“5000亿美元的零售市场还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中发挥的作用如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。佛罗里达大学商学院（University of Florida business school）研究IPO市场的教授杰伊·里特（Jay Ritter）表示，只有六家韩国科技公司在美国市场上市，都是从1999年到2006年。这份名单实际上包括Gmarket，这是一家电子商务公司，于2006年上市，并于2009年被eBay以12亿美元收购。EBay宣布正在为其韩国业务寻找买家。韩国最著名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>Jett认为Coupang交易将成为韩国风险投资市场的转折点。她说，人们有一种误解，认为韩国科技公司不够创新。“那扇门现在已经被吹掉了，”她说。“这将改变韩国企业的融资方式。这只是一个开始。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPNG":"Coupang, Inc."},"source_url":"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139451069","content_text":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.\nFounded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.complusInstacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.\nCoupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.\nThat high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.\nCoupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.\nCoupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.\nWhile not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.\nIn the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.\nCoupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.\nOne thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.\nSoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.\nSoftBank did not sell any shares in the offering, and Jett says in an interview withBarron’sthat the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.\n“We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”\nIt seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.\nJett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. 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11:07","market":"us","language":"en","title":"If You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1194064603","media":"fool","summary":"There have been a lot of compelling new stocks hitting the market over the past year. They may have ","content":"<p>There have been a lot of compelling new stocks hitting the market over the past year. They may have hit the ground running, but initial public offerings (IPOs) have been among the hardest-hit names during the recent correction for growth stocks.</p><p><blockquote>过去一年，市场上出现了许多引人注目的新股。它们可能已经起步，但在最近成长型股票的调整中，首次公开募股（IPO）一直是受打击最严重的股票之一。</blockquote></p><p> <b>Unity Software</b>,<b>fuboTV</b>, and<b>Lemonade</b>are three fast-growing companies that went public over the past year. They were all hot rookies early in their publicly traded tenure but have sold off sharply in recent weeks. Let's see why these three stocks that have been roughly cut in half as of Wednesday's market close since peaking deserve your due diligence.</p><p><blockquote><b>Unity软件</b>,<b>富波电视</b>，和<b>柠檬汽水</b>是过去一年上市的三家快速增长的公司。它们在上市初期都是炙手可热的新秀，但最近几周大幅抛售。让我们看看为什么这三只自见顶以来截至周三收盘已大致腰斩的股票值得您进行尽职调查。</blockquote></p><p> 1. Unity Software -- Down 47%</p><p><blockquote>1.Unity软件——下跌47%</blockquote></p><p> The game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.</p><p><blockquote>游戏正在Unity软件公司进行。基于云的实时3D内容创作平台最初受到游戏开发商的欢迎，但更广泛的网络已经抛向好莱坞工作室、建筑师、工程师和平面设计师。客户群正在扩大，Unity有几个收入来源来充分利用其新发现的受欢迎程度。</blockquote></p><p> Unity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.</p><p><blockquote>团结对生意没有坏处。去年营收增长43%，其中2月份第四季度报告同比增长39%。顾客也离得很近。Unity以美元为基础的净增长率（衡量客户参与度的软件即服务(SaaS)股票的流行指标）在过去一年中从133%增长到138%。换句话说，平均回头客在Unity平台上的支出比一年前增加了38%。</blockquote></p><p> 2. fuboTV -- Down 57%</p><p><blockquote>2.fuboTV——下跌57%</blockquote></p><p> Folks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.</p><p><blockquote>人们正在切断联系，直播电视流媒体服务正在迅速增长，作为填补渴望直播体育和网络节目的人们的数字空白的一种方式。这个利基市场中增长最快的玩家是fuboTV。</blockquote></p><p> Its customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.</p><p><blockquote>过去一年，其客户数量增长了73%。虽然它不是这里的老大，但其547,880名客户在订阅和快速增长的广告收入之间每月产生近70美元的收入。</blockquote></p><p> FuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.</p><p><blockquote>富波电视希望今年将其“体育第一”的市场定位货币化。它将在今年夏天为观众推出一个梦幻体育平台，并预计在第四季度推出在线体育书籍。尽管该公司正在加速增长，而且上调指引的历史也很短，但自三个月前达到顶峰以来，这是名单上唯一一家实际上已经放弃了一半以上价值的公司。</blockquote></p><p> 3. Lemonade -- Down 53%</p><p><blockquote>3.柠檬水——下跌53%</blockquote></p><p> Lemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.</p><p><blockquote>柠檬可能会让你皱起眉头，看到柠檬水股票回吐近一半峰值涨幅的投资者可能也有同感。这家高科技且具有潜在颠覆性的保险公司仍然是一个值得啜饮的名字。Lemonade重塑了保险购物和索赔报告体验。它依靠人工智能聊天机器人来提供报价，索赔过程有时也可以以同样的方式完成。</blockquote></p><p> Lemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.</p><p><blockquote>Lemonade最初是作为租房者和房主的平台推出的，但最近推出了针对宠物主人的政策。消费者——主要是年轻租房者和首次购房者——正涌向柠檬水。过去一年，其活跃保单增长了56%，目前为100万个账户提供服务。过去一年，每个账户支付的保费平均增长了20%，其毛损失率随着平台的可扩展性而不断提高。</blockquote></p><p> Unity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.</p><p><blockquote>Unity Software、fuboTV和Lemonade的股价必须上涨大约一倍才能回到之前的高点。他们可能不会全部到达那里，但这是一个机会时机，可以考虑将这三位倒下的IPO天使中的一位添加到您的观察名单中。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>If You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIf You Liked These IPOs Before You'll Love Them at 50% Off Now<blockquote>如果您以前喜欢这些IPO，现在您会以50%的折扣喜欢它们</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">fool</strong><span class=\"h-time small\">2021-03-26 11:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p>There have been a lot of compelling new stocks hitting the market over the past year. They may have hit the ground running, but initial public offerings (IPOs) have been among the hardest-hit names during the recent correction for growth stocks.</p><p><blockquote>过去一年，市场上出现了许多引人注目的新股。它们可能已经起步，但在最近成长型股票的调整中，首次公开募股（IPO）一直是受打击最严重的股票之一。</blockquote></p><p> <b>Unity Software</b>,<b>fuboTV</b>, and<b>Lemonade</b>are three fast-growing companies that went public over the past year. They were all hot rookies early in their publicly traded tenure but have sold off sharply in recent weeks. Let's see why these three stocks that have been roughly cut in half as of Wednesday's market close since peaking deserve your due diligence.</p><p><blockquote><b>Unity软件</b>,<b>富波电视</b>，和<b>柠檬汽水</b>是过去一年上市的三家快速增长的公司。它们在上市初期都是炙手可热的新秀，但最近几周大幅抛售。让我们看看为什么这三只自见顶以来截至周三收盘已大致腰斩的股票值得您进行尽职调查。</blockquote></p><p> 1. Unity Software -- Down 47%</p><p><blockquote>1.Unity软件——下跌47%</blockquote></p><p> The game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.</p><p><blockquote>游戏正在Unity软件公司进行。基于云的实时3D内容创作平台最初受到游戏开发商的欢迎，但更广泛的网络已经抛向好莱坞工作室、建筑师、工程师和平面设计师。客户群正在扩大，Unity有几个收入来源来充分利用其新发现的受欢迎程度。</blockquote></p><p> Unity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.</p><p><blockquote>团结对生意没有坏处。去年营收增长43%，其中2月份第四季度报告同比增长39%。顾客也离得很近。Unity以美元为基础的净增长率（衡量客户参与度的软件即服务(SaaS)股票的流行指标）在过去一年中从133%增长到138%。换句话说，平均回头客在Unity平台上的支出比一年前增加了38%。</blockquote></p><p> 2. fuboTV -- Down 57%</p><p><blockquote>2.fuboTV——下跌57%</blockquote></p><p> Folks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.</p><p><blockquote>人们正在切断联系，直播电视流媒体服务正在迅速增长，作为填补渴望直播体育和网络节目的人们的数字空白的一种方式。这个利基市场中增长最快的玩家是fuboTV。</blockquote></p><p> Its customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.</p><p><blockquote>过去一年，其客户数量增长了73%。虽然它不是这里的老大，但其547,880名客户在订阅和快速增长的广告收入之间每月产生近70美元的收入。</blockquote></p><p> FuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.</p><p><blockquote>富波电视希望今年将其“体育第一”的市场定位货币化。它将在今年夏天为观众推出一个梦幻体育平台，并预计在第四季度推出在线体育书籍。尽管该公司正在加速增长，而且上调指引的历史也很短，但自三个月前达到顶峰以来，这是名单上唯一一家实际上已经放弃了一半以上价值的公司。</blockquote></p><p> 3. Lemonade -- Down 53%</p><p><blockquote>3.柠檬水——下跌53%</blockquote></p><p> Lemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.</p><p><blockquote>柠檬可能会让你皱起眉头，看到柠檬水股票回吐近一半峰值涨幅的投资者可能也有同感。这家高科技且具有潜在颠覆性的保险公司仍然是一个值得啜饮的名字。Lemonade重塑了保险购物和索赔报告体验。它依靠人工智能聊天机器人来提供报价，索赔过程有时也可以以同样的方式完成。</blockquote></p><p> Lemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.</p><p><blockquote>Lemonade最初是作为租房者和房主的平台推出的，但最近推出了针对宠物主人的政策。消费者——主要是年轻租房者和首次购房者——正涌向柠檬水。过去一年，其活跃保单增长了56%，目前为100万个账户提供服务。过去一年，每个账户支付的保费平均增长了20%，其毛损失率随着平台的可扩展性而不断提高。</blockquote></p><p> Unity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.</p><p><blockquote>Unity Software、fuboTV和Lemonade的股价必须上涨大约一倍才能回到之前的高点。他们可能不会全部到达那里，但这是一个机会时机，可以考虑将这三位倒下的IPO天使中的一位添加到您的观察名单中。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/25/if-you-liked-these-ipos-before-youll-love-them-at/\">fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/25/if-you-liked-these-ipos-before-youll-love-them-at/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194064603","content_text":"There have been a lot of compelling new stocks hitting the market over the past year. They may have hit the ground running, but initial public offerings (IPOs) have been among the hardest-hit names during the recent correction for growth stocks.\nUnity Software,fuboTV, andLemonadeare three fast-growing companies that went public over the past year. They were all hot rookies early in their publicly traded tenure but have sold off sharply in recent weeks. Let's see why these three stocks that have been roughly cut in half as of Wednesday's market close since peaking deserve your due diligence.\n1. Unity Software -- Down 47%\nThe game's afoot at Unity Software. The cloud-based platform for real-time 3D content creation was originally a hit with game developers, but a wider net has been tossed out to Hollywood studios, architects, engineers, and graphic designers. The client base is expanding, and Unity has acouple of revenue streamsto make the most of its newfound popularity.\nUnity's not hurting for business. Revenue rose 43% last year, including a 39% year-over-year increase in February's fourth-quarter report. Customers are staying close, too. Unity's dollar-based net expansion rate -- a popular metric for software-as-a-service(SaaS) stocksthat measures client engagement -- has grown from 133% to 138% over the past year. In other words, the average returning account is spending 38% more on Unity's platform than a year earlier.\n2. fuboTV -- Down 57%\nFolks are cutting the cord, and live-TV streaming services are growing quickly as a way to fill the digital void for folks craving live sports and network programming. The fastest-growing player in this niche is fuboTV.\nIts customer count has risen 73% over the past year. While it'snot the top dog here, its 547,880 customers are generating nearly $70 a month in revenue between subscriptions and rapidly growing ad revenue.\nFuboTV is hoping to monetize its \"sports first\" market positioning this year. It will roll out a fantasy sports platform for its viewers this summer and expects to launch an online sportsbook in the fourth quarter. Despite the company's accelerating growth and its short history of jacking up guidance, this is the one name on the list that has actually surrendered more than half of its value since peaking three months ago.\n3. Lemonade -- Down 53%\nLemons may make you pucker up, and investors who have seen their Lemonade shares give up nearly half of their peak gains may feel the same way. The high tech and potentially disruptive insurance company is still a name worth sipping. Lemonade has reinvented the insurance shopping and claims reporting experience. It leans on artificial-intelligence chatbots to serve up quotes, and the claims process can sometimes be completed the same way.\nLemonade initially launched as a platform for renters and homeowners but recently rolled out policies for pet owners. Consumers -- primarily young renters and first-time homebuyers -- are flocking to Lemonade. It's seen its active policies climb 56% over the past year, and now is serving1 million accounts. Premiums paid per account are up 20%, on average, over the past year, and its gross loss ratio keeps improving alongside the platform's scalability.\nUnity Software, fuboTV, and Lemonade would have to roughly double to get back to their earlier highs. They may not all get there, but this is an opportunistic time to consider adding one of these three fallen IPO angels to your watch list.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324880239,"gmtCreate":1615982394921,"gmtModify":1703495883299,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324880239","repostId":"1133475246","repostType":4,"isVote":1,"tweetType":1,"viewCount":1146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323759656,"gmtCreate":1615379686275,"gmtModify":1703488129763,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323759656","repostId":"2118675551","repostType":4,"isVote":1,"tweetType":1,"viewCount":1882,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354020161,"gmtCreate":1617113005253,"gmtModify":1631888789196,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354020161","repostId":"2123729756","repostType":4,"isVote":1,"tweetType":1,"viewCount":1329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325480625,"gmtCreate":1615912700767,"gmtModify":1703495028929,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Damn","listText":"Damn","text":"Damn","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/325480625","repostId":"1137226701","repostType":4,"isVote":1,"tweetType":1,"viewCount":1663,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322113786,"gmtCreate":1615782241245,"gmtModify":1703492868820,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"🙏🏻🥳","listText":"🙏🏻🥳","text":"🙏🏻🥳","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322113786","repostId":"1139451069","repostType":4,"repost":{"id":"1139451069","kind":"news","pubTimestamp":1615777682,"share":"https://www.laohu8.com/m/news/1139451069?lang=zh_CN&edition=full","pubTime":"2021-03-15 11:08","market":"us","language":"en","title":"Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139451069","media":"Barrons","summary":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in So","content":"<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，就越想搬到首尔。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以惊人的方式上市。它现在是该国第二大上市公司，仅次于三星电子。这是自2014年阿里巴巴集团控股以来外国发行人在美国最大规模的首次公开募股，也是自2019年优步科技以来美国最大规模的新股发行。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang由哈佛商学院辍学生Bom Kim于2010年创立，现已成为韩国经济中的一股巨大力量。该公司占该国消费者商业的4%，拥有广泛的在线零售服务：ThinkAmazon.com<i>加</i>Instacart、DoorDash和Netflix.Coupang拥有约50,000名员工，预计到2025年将再雇用50,000名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它拥有重要的地理优势。韩国是一个精通技术、密度过高、人口超过5000万的国家。埃里克·金(Eric Kim)于2011年至2017年担任Coupang董事会成员，同时也是该公司投资者Maverick Capital的董事总经理，他指出，韩国的陆地面积与印第安纳州大致相同，但人口几乎是印第安纳州的10倍。他补充道，除去不适合居住的山区，所有这些人都被挤在一个相当于罗德岛州大小的地区。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使Coupang反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang表示，70%的韩国人居住在其配送中心之一7英里范围内。几乎任何东西都可以当天订购，“黎明送货”保证午夜前订购的商品在早上7点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。（让我们看看你怎么做，亚马逊。）该公司市场领先的在线杂货服务Coupang Fresh用可重复使用的容器运送货物——将它们放在门口，然后由Coupang的15,000名送货人员中的一名迅速带走以供重复使用。退货？把它们放在门外——不需要特殊的包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年收入为120亿美元，比上一年增长91%，疫情帮助其从2019年的55%和2018年的69%加速增长。过去四个季度每个季度的增长率都在90%以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司已接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang去年的利润率为负2.1%，而前年为负8.8%。这反映了保护工人免受疫情影响的一些不寻常成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为63.50美元，使该公司市值达到1140亿美元。该股随后走低，周四收于每股略低于50美元，估值略低于900亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang的股价并不便宜——eBay(EBAY)的收入相当，但市值还不到一半。根据过去12个月的销售额，该股的交易价格略高于阿里巴巴-SW(BABA)。但Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。阿里巴巴的增长率还不到Coupang的一半。Coupang也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和Coupang的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018年，软银愿景基金（该公司成立于2016年的1000亿美元风险投资组合）在一项由愿景基金高管、现任Coupang董事会成员的莉迪亚·杰特(Lydia Jett)牵头的交易中又投资了20亿美元。最初的投资被转入愿景基金，总赌注为27亿美元。这些股份现在价值300亿美元。这是一场巨大的胜利，也可能是女性风险投资者主导的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银在此次发行中没有出售任何股票<i>巴伦周刊</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在最初投资20多年后，软银仍然是阿里巴巴-SW最大的单一持有者。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“我们准备长期持有Coupang，”杰特说。“5000亿美元的零售市场还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中发挥的作用如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。佛罗里达大学商学院（University of Florida business school）研究IPO市场的教授杰伊·里特（Jay Ritter）表示，只有六家韩国科技公司在美国市场上市，都是从1999年到2006年。这份名单实际上包括Gmarket，这是一家电子商务公司，于2006年上市，并于2009年被eBay以12亿美元收购。EBay宣布正在为其韩国业务寻找买家。韩国最著名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>Jett认为Coupang交易将成为韩国风险投资市场的转折点。她说，人们有一种误解，认为韩国科技公司不够创新。“那扇门现在已经被吹掉了，”她说。“这将改变韩国企业的融资方式。这只是一个开始。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是南韩的亚马逊，但也许更好。现在你可以买股票了。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-15 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，就越想搬到首尔。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以惊人的方式上市。它现在是该国第二大上市公司，仅次于三星电子。这是自2014年阿里巴巴集团控股以来外国发行人在美国最大规模的首次公开募股，也是自2019年优步科技以来美国最大规模的新股发行。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang由哈佛商学院辍学生Bom Kim于2010年创立，现已成为韩国经济中的一股巨大力量。该公司占该国消费者商业的4%，拥有广泛的在线零售服务：ThinkAmazon.com<i>加</i>Instacart、DoorDash和Netflix.Coupang拥有约50,000名员工，预计到2025年将再雇用50,000名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它拥有重要的地理优势。韩国是一个精通技术、密度过高、人口超过5000万的国家。埃里克·金(Eric Kim)于2011年至2017年担任Coupang董事会成员，同时也是该公司投资者Maverick Capital的董事总经理，他指出，韩国的陆地面积与印第安纳州大致相同，但人口几乎是印第安纳州的10倍。他补充道，除去不适合居住的山区，所有这些人都被挤在一个相当于罗德岛州大小的地区。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使Coupang反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang表示，70%的韩国人居住在其配送中心之一7英里范围内。几乎任何东西都可以当天订购，“黎明送货”保证午夜前订购的商品在早上7点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。（让我们看看你怎么做，亚马逊。）该公司市场领先的在线杂货服务Coupang Fresh用可重复使用的容器运送货物——将它们放在门口，然后由Coupang的15,000名送货人员中的一名迅速带走以供重复使用。退货？把它们放在门外——不需要特殊的包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年收入为120亿美元，比上一年增长91%，疫情帮助其从2019年的55%和2018年的69%加速增长。过去四个季度每个季度的增长率都在90%以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司已接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang去年的利润率为负2.1%，而前年为负8.8%。这反映了保护工人免受疫情影响的一些不寻常成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为63.50美元，使该公司市值达到1140亿美元。该股随后走低，周四收于每股略低于50美元，估值略低于900亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang的股价并不便宜——eBay(EBAY)的收入相当，但市值还不到一半。根据过去12个月的销售额，该股的交易价格略高于阿里巴巴-SW(BABA)。但Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。阿里巴巴的增长率还不到Coupang的一半。Coupang也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和Coupang的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018年，软银愿景基金（该公司成立于2016年的1000亿美元风险投资组合）在一项由愿景基金高管、现任Coupang董事会成员的莉迪亚·杰特(Lydia Jett)牵头的交易中又投资了20亿美元。最初的投资被转入愿景基金，总赌注为27亿美元。这些股份现在价值300亿美元。这是一场巨大的胜利，也可能是女性风险投资者主导的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银在此次发行中没有出售任何股票<i>巴伦周刊</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在最初投资20多年后，软银仍然是阿里巴巴-SW最大的单一持有者。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“我们准备长期持有Coupang，”杰特说。“5000亿美元的零售市场还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中发挥的作用如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。佛罗里达大学商学院（University of Florida business school）研究IPO市场的教授杰伊·里特（Jay Ritter）表示，只有六家韩国科技公司在美国市场上市，都是从1999年到2006年。这份名单实际上包括Gmarket，这是一家电子商务公司，于2006年上市，并于2009年被eBay以12亿美元收购。EBay宣布正在为其韩国业务寻找买家。韩国最著名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>Jett认为Coupang交易将成为韩国风险投资市场的转折点。她说，人们有一种误解，认为韩国科技公司不够创新。“那扇门现在已经被吹掉了，”她说。“这将改变韩国企业的融资方式。这只是一个开始。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPNG":"Coupang, Inc."},"source_url":"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139451069","content_text":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.\nFounded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.complusInstacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.\nCoupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.\nThat high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.\nCoupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.\nCoupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.\nWhile not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.\nIn the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.\nCoupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.\nOne thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.\nSoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.\nSoftBank did not sell any shares in the offering, and Jett says in an interview withBarron’sthat the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.\n“We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”\nIt seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.\nJett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”","news_type":1,"symbols_score_info":{"CPNG":0.9}},"isVote":1,"tweetType":1,"viewCount":1543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381373134,"gmtCreate":1612938593228,"gmtModify":1703767159513,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"Interesting&nbsp;","listText":"Interesting&nbsp;","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381373134","repostId":"2110094289","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381347830,"gmtCreate":1612938218420,"gmtModify":1703767155345,"author":{"id":"3573033351755424","authorId":"3573033351755424","name":"lowjiaying","avatar":"https://static.tigerbbs.com/b6a8d03c5fd3ebbf0c932dd507f5cdf7","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3573033351755424","idStr":"3573033351755424"},"themes":[],"htmlText":"cool","listText":"cool","text":"cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/381347830","repostId":"2110094289","repostType":4,"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}