Softbank has revealed it will invest $1 billion in Coupang, the South Korean mobile commerce company. Softbank joins the likes of BlackRock, Sequoia Capital and William Ackman as a Coupang investor. Coupang has now raised $1.4 billion to date and said to be valued at around $5 billion. “Coupang is one of the fastest-growing and most disruptive Internet companies in the world. [It] is setting a new standard for how e-commerce can and should be done across the globe with its innovative technologies and approach to same-day delivery, mobile commerce, and customer service,” said Nikesh Arora, vice chairman at SoftBank, said in a statement.
PillPack, a medication management company, has raised $50 million in a funding round led by CRV with participation from Accel Partners, Atlas Venture, Menlo Ventures and Sherpa Ventures. PillpAck is a full service pharmacy aiming to provide a simpler way for patients to take multiple medications. “In the last two years, we’ve built and launched a better, simpler pharmacy experience that folks absolutely love,” said TJ Parker, PharmD, CEO of PillPack in a press release. “With this funding, we’re excited to expand our physical footprint across the country, enabling both increased capacity as well as opportunities for an even more delightful experience for our customers.”
Mic, the news and media company aimed at millenials, has announced $17 million in new funding. The Series B round was led by Lightspeed Venture Partners, with participation from Axel Springer and previous backers Lerer Ventures, Jim Clark, Advancit Capital, Red Swan Ventures, and the John S. and James L. Knight Foundation. Mic has now raised $32 million in total. The company also announced it has hired NPR News’ Madhulika Sikka as executive editor. “With a monthly audience of 30 million, blue-chip advertising clients, and an executive editor with impeccable credentials, Mic has tremendous momentum,” said Chris Altchek, co-founder and CEO of Mic. “We’re well-positioned to continue our growth and become the most trusted news brand for our generation.”
Digital distributor Believe Digital has raised $60 million from Technology Crossover Ventures and XAnge. CEO and Founder Believe Digital Group, Denis Ladegaillerie said: “Believe Digital aims to become the global leader in digital distribution and label services; the rapid growth of digital music sales (which now surpass CD sales in many countries) is contributing to making Believe Digital and TuneCore increasingly attractive alternatives for labels and artists; the future is exciting and this capital will empower us to invest more to make our artists and labels successful, hire music, digital marketing and technology talents and explore targeted acquisition opportunities with companies that share our vision and goal.”