Sea: Meet the company behind Shopee and the Free Fire game

THE shop is one of the most popular e-commerce platforms in the world. According to a recent survey by Panorama Mobile Time/Opinion Box, it is the leader in smartphone and tablet purchases and sales in Brazil, second in average monthly active users, and was the most downloaded app worldwide in the “s” category.jumps” in 2021. However, not everyone knows where it came from and where it came from who created Shopee.

E-commerce is responsible Ltd. Si.The organization currently operates in three segments: game together Garena, fintech as sea ​​money And of course online shopping with Shopee. It is a Singapore based company founded in 2009 that started with lanhouse software. After some time, he earned a nickname “Southeast Asian Tencent” for regional distribution of the gaming giant’s titles.

Sea operates mainly in countries such as Indonesia, Vietnam, the Philippines, Malaysia and Taiwan. Shoppe was launched in 2015 and according to its official page, it is the leading e-commerce platform in Southeast Asia.

Logo of Sea Ltd. (Sea Ltd.)Source: LLC Si.

Another very important moment in the company’s history is the launch of its first mobile game, which many people should know about in Brazil: free fire. The game won approx. 80 million users Active daily in more than 130 markets in addition to reach 1 billion downloads on Google Play.

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In 2019-2020, Sea attracted a lot of attention to become The world’s best performing big-cap player. It went public on the New York Stock Exchange in 2017, backed by Tencent, and had a rough first year. But after a while the values ​​rose astronomically and surpassed its competitors.

was more than 880% for 18 months. Its revenue rose 163% to $2.2 billion in 2019, while its market cap grew to $65 billion, overtaking DBS Group Holdings Ltd. and PT Bank Central Asia. Shares jumped 979% from January 2019 to July 2020, from $11.12 to $122.20.

According to its CEO Forrest Lee, the pandemic, which was just beginning, increased the demand for mobile games and its online shopping platform at the time. According to the agency’s e-commerce report survey in Brazil convertSea’s online retail business grew by 1954% from March 2020 to March 2021.

Image credit: Shutterstock.Image credit: Shutterstock.Source: Shutterstock

It is interesting to comment that according to the 2021 edition of Estadão, Sea There is no net profit yet In recent years, and its e-commerce EBITDA (earnings before interest, taxes, depreciation and amortization) has also been negative. However, the outlook is positive as experts are betting on the entertainment and online shopping area to strengthen the sea.

Anna Paula Tozzi, CEO of AGR, a consulting and business management company, says: “We believe that Shopee is on the road to profitability and we are confident that this is a model that is here to stay. Of course, it’s easier to be skeptical about the jump in roles, but the bet is that the retail value will be positive. It’s not an overt action, it’s a long-term action.”

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