South Korean e-commerce giant Coupang, which is backed by SoftBank Group, filed for an initial public offering with the Securities and Exchange Commission Friday.
The company's filing stated that 2020 total revenue jumped 91% to $11.97 billion year over year and its net loss narrowed to $474.9 million from $698.8 million.
The company, which was founded in 2010 by 41-year-old Harvard grad Bom Kim, was most recently valued at about $9 billion in its latest funding round.
SoftBank made a $1 billion investment in the company in 2015 and the firm's Vision Fund invested an additional $2 billion into the company in 2018.
Goldman Sachs, Allen & Co, JP Morgan, BofA Securities, and Citigroup are some of the underwriters for the offering.
The U.S. IPO market has been hot in recent quarters with companies looking to take advantage of unprecedented investor interest in markets.
Other companies have been choosing a different route to go public via SPACs in the past year, including ones included in TheStreet's SPAC Tracker.
But TheStreet's Jim Cramer recently had a bit of advice for investors looking to cash in on these initial stock offerings.
"We just think if people have knowledge of a lockup expiring then they can make a more considered judgment on the stock after they've made a considered judgment on the company," Cramer told TheStreet.