Market Kurly Follows Coupang, Pursues New York IPO

Market Kurly is an online shopping mall that delivers fresh food.

Market Kurly Follows Coupang, Pursues New York IPO

Photo: Market Kurly's CEO Kim Seul-ah.  Credit: Market Kurly.

Market Kurly 마켓컬리, an online shopping mall specializing in delivering fresh food, selected Goldman Sachs, Morgan Stanley and JP Morgan as underwriters for a potential initial public offering with the New York Stock Exchange or NASDAQ.

Market Kurly, led by 38 year old woman CEO Kim Seul-ah 김슬아, was valued at approximately KRW 1t (USD 850m) as of April 2020. But its sales nearly doubled during the COVID-19 pandemic such that its current valuation may be approaching KRW 5t (USD 4.2b). Market Kurly is known for its “morning star delivery” 샛별배송, a service that delivers fresh food by 7 a.m. next day if ordered before 11 p.m. the night before. Market Kurly’s announcement came at the heels of the successful IPO of Coupang 쿠팡 on March 11, raising USD 4.6b.

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