Paul Hastings and Morrison & Foerster are advising Japanese telecommunications giant Softbank Corp. on a $1 billion investment into Korean ecommerce company Coupang.

Seoul-based Coupang was launched in 2010 by Harvard Business School dropout Bom Kim as a Groupon-like site offering daily deals for products ranging from clothing, food to books and concert tickets. Last year, the company reported $110.5 million in revenues, making it one of the largest online retailers in Korea.