Al Arabiya News hosted Abdulmoshin Al Omran, CEO and Founder of The Family Office Company, to discuss Coupang, South Korea’s largest and fastest growing e-commerce platform, ahead of its IPO listing on the New York Stock Exchange. Coupang is one of the larger holdings of the SoftBank Vision Fund.
Mr. Al Omran explained that investors are showing a strong appetite for e-commerce and technology companies, particularly in the last five years. The Family Office itself has invested on behalf of its clients in Coupang, among other technology companies such as ByteDance, the Chinese multinational internet technology company that developed the video-sharing social networking app, TikTok.
With 17 years of experience in wealth preservation and growth, the investment philosophy of The Family Office revolves around diversification and alternative investments. The Family Office has built a wide network of partnerships with leading top-tier asset managers such as KKR, The Carlyle Group and BlackRock to provide its clients access to unique private market opportunities.
When The Family Office made the investment in 2017, Coupang was not yet the #1 player. But Coupang made the most significant investment in last-mile nationwide logistics centers, which The Family Office believed would make it the dominant player in South Korea. Today, 70% of South Korea’s population lives within seven miles of a Coupang logistics center and Coupang has the largest delivery fleet in the country, with more than 15,000 full-time drivers at year end 2020.
The decision to invest in Coupang centered around their ability to invest for the long term in technology and infrastructure with a culture of customer centricity and delivering a superior customer experience. These values inspire The Family Office in its own digitization journey.
The Family Office has launched a digital platform that offers its members of qualified investors and high-net-worth individuals unparalleled benefits that are normally available exclusively to large institutional investors.