Coupang ranks 2nd in CNBC Disruptor 50

South Korean e-commerce giant Coupang said Tuesday it ranked second in the eighth edition of the CNBC Disruptor 50 list from among 1,355 nominees worldwide.

The list of 50 private companies with the potential of becoming the “next generation of billion-dollar businesses” is released by the US broadcaster annually.

Coupang said it was the first Korean company to be included in the list.

According to CNBC’s description, the 2020 CNBC Disruptors are “50 private companies at the epicenter of a changing world, poised to emerge from the pandemic as the next generation of billion-dollar businesses.”

Companies such as Twitter, Xiaomi, Space X and Spotify have been chosen for the list over the past seven years.

In selecting the Korean company, CNBC highlighted its efforts to take early measures to gear up against the COVID-19 crisis.

“The company admits that the coronavirus outbreak created massive disruptions in supply, logistics and prices, but that it took bold steps early on,” CNBC described on its site.

“It was able to replenish supplies of face masks and hand sanitizers just as the virus began to spread, but Coupang froze prices so customers wouldn’t be adversely affected.”

Coupang operates various delivery services, including the Rocket Fresh service, which provides dawn overnight delivery of fresh groceries.

“Coupang customers are used to receiving products they want within a couple of hours if they order before midnight. But that experience is envied by many overseas,” said Kim Bom-suk, CEO of Coupang.

“Coupang will continue to make investments to create more surprising experiences for the customers and for them to be used to such services.”

By Jo He-rim (herim@heraldcorp.com)