Son Jeong-ui vs Kusbecker, Proxy War of Big Players in the Global Delivery Market

Masayoshi Son Earns 33 Billion KRW from Coupang
10 Billion USD Investment... Operating Uber Eats
Coupang Baker Continues Food Delivery Investments
Focus on Emerging Markets like Latin America and India

At the center of the global delivery service market are two major figures: Masayoshi Son (Son Masayoshi), chairman of Japan's SoftBank Group (SBG), and Koos Bekker, chairman of the board of Naspers from South Africa. The global delivery market is largely divided between companies invested in by these two individuals. In other words, it can be seen as a proxy battle between Masayoshi Son, who wields influence in the U.S. and Southeast Asian delivery markets, and Koos Bekker, who stands out in Latin America, India, and the Middle East.

◆ Koos Bekker, who transformed a media company into an investment firm = Naspers, Africa's largest company, was originally a media company publishing magazines and newspapers. When Bekker became CEO in 1997, the company began to transform into an investment firm. After graduating from Columbia Business School in the U.S. and returning to South Africa, he founded the pay-TV channel 'M-Net' in 1986 and merged it into Naspers, taking on the CEO role.

Bekker grew Naspers into a specialized investment company by continuously investing in global IT firms. Notably, he invested in Tencent, China's largest IT platform company, becoming its largest shareholder and earning massive profits. Known as a master of growth investing, Bekker turned Naspers into the 'SoftBank of Africa.'

In particular, since 2015, he has recognized the potential of the food delivery market and continued investing. In 2015, he invested $40 million in Movile, which owns Brazil's food delivery service iFood, and in 2017, he invested over 300 million euros in Germany's Delivery Hero (DH), becoming its largest shareholder. In 2017, he also invested $80 million in India's delivery app Swiggy. His strategy focused on investing primarily in emerging markets unfamiliar to us.

Chairman Bekker emphasized the importance of failure in business management, leaving the following words: "Losing a lot of money was the best thing that happened to us. The most dangerous moment for a company is when everything is going well and we nurture the illusion that we are perfect. The most promising moment is right after we have just failed."

◆ Masayoshi Son considers Coupang's entry into Japan = While Bekker dominates the delivery markets in Latin America, India, and Europe, Masayoshi Son, known as the 'top talent of Silicon Valley,' holds sway in the U.S. and Southeast Asian markets. According to major foreign media on the 30th, Son is discussing introducing Coupang's services in Japan following its successful listing on the New York Stock Exchange. SoftBank's subsidiary 'Z Holdings' is reportedly in talks with Coupang regarding its services in Japan.

Z Holdings is an intermediate holding company launched on the 1st to integrate Naver's Japanese subsidiary Line and SoftBank's Yahoo. Coupang, an e-commerce company that established its business base in Korea, was listed on the New York Stock Exchange (NYSE) on the 11th (local time), receiving a valuation exceeding 70 trillion won. Foreign media reported that Son, who invested $3 billion in Coupang, earned about $33 billion in returns based on the initial stock price.

Coupang's delivery service, Coupang Eats, is rapidly catching up with Baedal Minjok, the number one domestic delivery app acquired by DH. If Coupang enters Japan, the likelihood of Coupang Eats being introduced there also increases.

Son joined the delivery market competition by having platforms he invested in enter the delivery business. In 2017, Son invested $10 billion in the ride-sharing service Uber, which operates the food delivery service Uber Eats. Another major investment, Grab, also operates food delivery based on its ride-sharing service. Known as the 'Uber of Southeast Asia,' Grab is moving toward listing on the U.S. New York Stock Exchange through a SPAC (Special Purpose Acquisition Company).

Son's direct investment in the food delivery business is exemplified by the U.S. startup DoorDash. SoftBank invested $680 million in DoorDash from early 2018, becoming its largest shareholder. When DoorDash successfully listed on the New York Stock Exchange in December last year, Son earned investment profits exceeding $4 billion.

This content was produced with the assistance of AI translation services.