Garena

Sea, former Garena, files for NYSE IPO
SINGAPORE (Sept 23): Sea, the internet company formerly known as Garena, is readying itself for an initial public offering (IPO) in the US. On Saturday, the company announced it has filed a registration statement with the US Securities and Exchange Commission for a proposed IPO of its American Depositary Shares representing Class A Ordinary Shares. Although the number of shares to be ...
Is the electronic games industry too big for its own good?
SINGAPORE (July 7): Every year in mid-June, a who’s who of the electronic entertainment and video game industry, from makers of consoles to game developers, descend on Los Angeles, the entertainment capital of the world and home to Hollywood, for E3, the annual games conference and exhibition. CEOs of Sony, Microsoft and Nintendo Co rub shoulders with creators of games such as Angry Birds, ...
Southeast Asia's biggest startup said to file for US$1 bil IPO
SINGAPORE (May 24): Sea, Southeast Asia’s most valuable startup, has filed confidentially for a potential US initial public offering that could raise about US$1 billion ($1.4 billion), according to people with knowledge of the matter. The company, formerly known as Garena, filed confidentially with the US Securities and Exchange Commission in the past few weeks, according to the people, who ...
Garena rebrands as Sea after raising US$550 mil in new funding
(May 8): Garena has rebranded as Sea after Southeast Asia’s most valuable startup secured US$550 million ($772 million) in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia. The eight-year-old startup backed by Tencent Holdings landed a clutch of new investors in its latest funding round, including some of the region’s wealthiest families. They ...
Billionaire Taizo Son ditches Japan to start afresh in Singapore
SINGAPORE (April 18): Singapore may have just added a new tech billionaire, but it had to lure him from Japan first. Taizo Son, who built his fortune on hit smartphone game Puzzle & Dragons, has relocated to the city-state from Tokyo and plans to invest US$100 million ($140 million) in Southeast Asia within five years. The younger brother of SoftBank Group Corp.’s founder said in ...
Garena picks Goldman for US$1 billion IPO
SINGAPORE (Jan 11): Garena, Southeast Asia’s most valuable startup, picked Goldman Sachs Group Inc. to lead a planned initial public offering that could fetch about US$1 billion ($1.44 billion), according to people with knowledge of the matter. The Singapore-based online gaming portal and e-commerce provider plans to select additional banks as soon as this month, the people said. Garena is ...
Growing beyond games
Garena is expanding into e-payments and e-commerce. Both industries are well populated with players that do not seem interested in making money. Is Singapore’s most valuable start-up likely to come out ahead? Singles’ Day sales in China are running out of steam after eight years. The oneday shopping bonanza saw growth slow to a modest 32% this year, compared with 60% in 2015. But consumer ...
This company has its game face on for new frontiers
SINGAPORE (Nov 18): This year, a newcomer joins the ranks to capture a slice of the online shopping pie: Shopee, powered by Southeast Asia’s most valuable start-up, Garena. There are about 1.5 million registered sellers on Shopee, while 70% of the user base comprises repeat customers. Garena recently raised US$170 million in Series D funding to help Shopee grow in Southeast Asia. During its ...
Forrest Gump-inspired startup Garena running toward an IPO
SINGAPORE (Aug 30): Li Xiaodong was attending a college English class when the American lecturer asked each student to come up with a Western name. Many chose Michael, after the basketball superstar Michael Jordan. When his turn came around, the shy youth picked Forrest -- as in Gump. That alias would come to define the self-professed outlier who now oversees Garena, a gaming and e-commerce ...
Game publisher Garena secures its base in Southeast Asia; gets ready to 'level up'
SINGAPORE (July 23): Singapore stert-ups base themselves in Singapore for a variety of reasons. The usual checklist includes ease of doing business, easy access to growing regional markets and the availability of funding from various investors. For Forrest Li, the China-born and Stanford-educated founder and CEO of game publishing company, Garena, there was another critical reason: his ...
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