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Stanley Druckenmiller, Bill Ackman among early Coupang investors

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Stanley Druckenmiller (L), and Bill Ackman

CNBC

South Korean e-commerce giant Coupang, which soared in its Wall Street debut, got early backing from a couple high-profile investors: Stanley Druckenmiller and Bill Ackman.

Coupang, dubbed the Amazon of South Korea, nearly doubled from its initial public offering price of $35 per share shortly after Thursday’s midday open on the New York Stock Exchange.

The stock later pared those gains, but it was still up around 50% for a market value of $90 billion.

Druckenmiller, the billionaire CEO of the Duquesne Family Office, has been a longtime, pre-IPO investor in the Seoul-based company, Kevin Warsh, an advisor to Druckenmiller, told CNBC’s Becky…



Source cnbc.com

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