Shopee

Sea loss widens on investment in Shopee e-commerce platform
(Aug 22): Sea Ltd., operator of Southeast Asia’s biggest gaming platform, posted a wider quarterly loss as it invests in building up e-commerce platform Shopee. The net loss was US$250.8 million ($342.8 million) in the three months ended June compared with a loss of US$92.1 million a year earlier, Singapore-based Sea said in an emailed statement. Total revenue at the company rose to US$183.8 ...
Sea raises US$575 mil in convertible notes offering
SINGAPORE (June 19): Sea has completed its previously announced offering of US$575 million ($777 million) aggregate principal amount of 2.25% convertible senior notes due 2023. See: Sea mulls raising funds for e-commerce as quarterly loss triples To address investor demand, the company increased the offering size from an initial US$400 million to US$500 million, and a full exercise of a 15% ...
Sea mulls raising funds for e-commerce as quarterly loss triples
(May 16): Sea, operator of Southeast Asia’s biggest gaming platform, said it may raise funds to strengthen its balance sheet after its quarterly loss tripled on rising investments at mobile-shopping unit Shopee. The Singapore-based gaming and e-commerce company said its net loss during the three months ended in March was US$215.6 million, compared with US$73.1 million a year earlier. Total ...
Shorts sellers square off with analysts over still in the red Sea
(Feb 27): Sea, operator of Southeast Asia’s biggest gaming platform, has had a rough start as a public company. The much-heralded Singapore-based company raised about US$1 billion ($1.3 billion) in an October initial public offering led by Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG. The shares have tumbled almost 20 percent since then and losses are widening. When ...
Life could get choppy for Sea after US$1 bil IPO
HONG KONG (Sept 25): Listed life can be rough. Sea, a Southeast Asian startup formerly known as Garena, has filed for a US initial public offering of up to US$1 billion ($1.35 billion). But larger deep-pocketed rivals are ramping up competition. An IPO at this stage could make the fight to come harder. See: Sea, former Garena, files for NYSE IPO Backed by Chinese internet giant Tencent, Sea ...
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 ...
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 ...
Temasek unit among new wave of investors in Garena
SINGAPORE (Sept 5): Temasek Holdings’ wholly-owned subsidiary, SeaTown Holdings International, has joined Indonesia-based Global Digital Prima Venture and Japan-based Mistletoe in a new investment in Southeast Asia’s largest start-up, Garena Interactive Holding. “We are proud to welcome three of Asia’s most respected investment firms to Garena,” says Forrest Li, Garena’s founder, ...