South Korea’s Kurly Inc, which operates the online grocery service Market Kurly, has received preliminary approval for an initial public offering (IPO), the Korea Exchange said on Monday.
Kurly has seen annual revenue grow threefold to 1.6 trillion won ($1.19 billion) in 2021 from 426 billion in 2019 as demand for online grocery shopping jumped during the COVID-19 pandemic, although it reported an operating loss of 214 billion won in 2021.
