Weil, Gotshal & Manges has advised SoftBank’s Vision Fund in its investment of $2 billion in South Korean e-commerce firm Coupang, which was represented by Hughes Hubbard & Reed.

This is the second investment by Japan’s SoftBank in Coupang after it initially invested $1 billion in the start-up in 2015.

According to Reuters, Coupang has since grown rapidly to become the biggest player in South Korea’s e-commerce market. It clocked 2.7 trillion won ($2.4 billion) in revenue last year. 

Reuters added that Coupang has gone a step further to make it presence felt in an over-crowded delivery market by building a huge delivery network which goes beyond being just a website and a collection of warehouses. 

Weil’s team was led by China managing partner Charles Ching and Hong Kong corporate/M&A partner Chris Welty.

 

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