Coupang, one of the world’s largest and fastest-growing eCommerce companies, today announced it has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies (MIC) for 2020. The list honors businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. This year’s MIC list features 434 businesses from 39 countries. Coupang ranked as the top Korean company overall and second on the list for the Asia Pacific region.
“Coupang stands out based on the many clever ways that it uses technology throughout the e-commerce experience it delivers for its millions of customers every day,” says Fast Company deputy editor David Lidsky. “We have followed Coupang’s innovations with great interest for awhile now and are delighted to include Coupang among this year’s Most Innovative Companies after having honored its CEO Bom Kim on Fast Company’s Most Creative People in Business 2019.”
Coupang’s unique end-to-end integration of the entire eCommerce experience —having built from scratch the entire fulfillment infrastructure, last-mile delivery network and the underlying technology—has enabled the company to redefine what is possible. 99.3% of its “Rocket Delivery” orders arrive in one day or less; a significant and growing share are hand-delivered within hours. Services such as Dawn Delivery enable customers to order from a selection of millions of items, from ice cream to iPads, as late as midnight and have the items delivered to their doorsteps before 7am, 365 days a year. And Coupang’s boxless delivery initiatives have led to the removal of box packaging for hundreds of millions of products—including some of its most fragile items—resulting in a hassle-free experience for customers and a reduction in packaging waste and product damage.
“We want customers to ask ‘How did I ever live without Coupang?’ which only happens when we make their lives a hundred times better,” said Bom Kim, CEO of Coupang. “Our goal is to make customers’ lives so effortless that our services feel magical. We are excited to dedicate ourselves to creating a world where customers can’t imagine life without Coupang.”
For this year’s World’s Most Innovative Companies list, Fast Company’s editors and writers sought out the most groundbreaking businesses on the planet and across myriad industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” added Farley.
Fast Company’s Most Innovative Companies issue (March/April 2020) is now available online at fastcompany.com/most-innovative-companies/2020, as well as in app form via iTunes and on newsstands beginning March 17, 2020. The hashtag is #FCMostInnovative.
Coupang is Korea’s largest eCommerce platform and one of the fastest-growing consumer internet companies in the world. Powered by its proprietary technology infrastructure, Coupang has built revolutionary end-to-end fulfillment and logistics operations that deliver millions of items to Customers’ doors within hours. Customers have embraced this convenience, making Korea’s eCommerce market the fifth largest in the world and on track to be the third largest by 2021, behind only China and the U.S.
Founded in 2010, Coupang is a global company with offices in Beijing, Los Angeles, Seattle, Seoul, Shanghai, and Silicon Valley.
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