According to Yonhap News,

(SEOUL=Yonhap News) South Korean e-commerce giant Coupang said Thursday it has raised US$300 million in an investment led by U.S. asset manager BlackRock, a move that is expected to accelerate the retailer's rapid growth.

BlackRock Private Equity Partners led the financing in which asset managers Wellington Management Company, Greenoaks Capital Management and Rose Park Advisors took part, the company said in a press release.

"Its differentiated same-day service model, deep mobile expertise, and precedent-setting online commerce offering, make Coupang an e-commerce leader to watch -- not only in Korea but globally," BlackRock managing director Jay Park said.

The investment comes less than six months after the e-commerce operator raised $100 million in a financing round led by U.S. venture capital firm Sequoia Capital.

Coupang said it plans to use the funding to expand research and development as well as bolster its same-day service in which customers can receive their order on the same day they placed it.

The number of unique visitors to Coupang topped 7.2 million in November, making it the market leader since July 2012, according to the company.

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