Sea Ltd | |
Company type | Public |
NYSE: SE | |
ISIN | US81141R1005 |
Founded | 2009 |
Founder | Forrest Li |
Headquarters | 1 Fusionopolis Place, #17-10, Galaxis, Singapore 138522 |
Area served | Worldwide |
Key people | Forrest Li (Founder & CEO) Gang Ye (Director & COO) [1] |
Products | |
Revenue | US$12.45 billion (2022) |
US$−1.658 billion (2022) | |
Owner | Tencent (20.08 %) , Forrest Li (3.67%) |
Parent | Tencent (20.08 %) |
Subsidiaries | SeaBank Philippines Lion City Sailors FC Garena SeaMoney Shopee SeaBank Indonesia MariBank |
Website | www |
Footnotes /references [2] |
Sea Limited (Stylized as: sea) is a tech conglomerate headquartered in Singapore. Established in 2009 by Forrest Li, Sea was initially founded as Garena, a game development and publishing company known for its Free Fire title. The company rebranded itself under the present-day Sea brand in May 2017 after securing funding worth US$550 million, although the Garena brand was retained for its digital entertainment arm. [3] [4] Sea has over 67,000 employees, as of 2022. [5]
Sea currently functions as a holding company for Garena, SeaMoney, and Shopee. [6] Since 2020, Sea is also the owner of Singapore Premier League football club Lion City Sailors FC, after Forrest Li acquired, privatised and renamed Home United. [7]
On 9 September 2021, Sea was reportedly raising up to US$7.2 billion in an equity and convertible bond sale, which would make it Southeast Asia's largest fund raising. Sea said it planned to use the cash for strategic investments and potential acquisitions. [8] [9]
In January 2022, Chinese gaming giant Tencent offloaded its US$3 billion investment in Sea. [10]
Sea disbanded its investment division in 2023 after disappointing returns including the failure of FTX. [11]
Shopee is a technology company focused mainly on e-commerce. Shopee was first launched in Singapore in 2015, and has grown to become the largest e-commerce platform in Southeast Asia with 343 million monthly visitors. The company also serves consumers and sellers throughout in several countries across the Americas and Europe who wish to purchase and sell their goods online. [12] [13]
SeaMoney is an internet services company specialized in digital payments and financial services. Regarded as Sea's payments arm, its offerings include mobile wallet services, payment processing, credit offerings, and related digital financial products and services. These are available in seven markets across Southeast Asia and Taiwan under various brands, including ShopeePay, SPayLater, and other brands. [14] SeaMoney served over 52 million users as of the second quarter of 2022. [15]
Garena is the digital entertainment arm of Sea and distributes game titles on Garena+, an online game and social platform run by the company since 2012 for people to discover, download and play online games. Garena distributes game titles through Garena+ in various countries across Southeast Asia and Taiwan, including MOBA games League of Legends and Heroes of Newerth , the online football (soccer) game FIFA Online 3 , the first-person shooter game Point Blank , the mobile MOBA game Arena of Valor and the mobile racing game Speed Drifters .
In 2017, Garena developed Free Fire , an online action-adventure game that became the most downloaded game on the Google Play Store in 2019.
As of the second quarter of 2021, Garena recorded 725 million active users, 45% more than the year prior, while the number of paid users jumped 85% year-on-year, reaching 92 million. [15] The outlook for Garena declined in 2022, after reports in March suggested that Garena will post US$2.9 to US$3.1 billion in bookings for the year, down from US$4.6 billion in 2021. [16] The muted forecast would also be Garena's first decline in business ever. [16] The ban imposed on its Free Fire title in India across both Google Play and Apple app stores has been cited as one of the contributory factors. [16] [17] [18]
SoftBank Group Corp. is a Japanese multinational investment holding company headquartered in Minato, Tokyo which focuses on investment management. The group primarily invests in companies operating in technology that offer goods and services to customers in a multitude of markets and industries ranging from the internet to automation. With over $100 billion in capital at its onset, SoftBank's Vision Fund is the world's largest technology-focused venture capital fund. Fund investors included sovereign wealth funds from countries in the Middle East.
GGV Capital is a global venture capital firm. The firm was established in 2000 and is headquartered in Menlo Park, California. Formerly known as Granite Global Ventures, the firm has become one of the most active American investors in Chinese artificial intelligence companies. As of 2021, it manages $9.2 billion in capital across 17 funds.
Garena is a Singaporean game developer and publisher of free online games. It is the digital entertainment arm of parent company Sea Ltd, which was formerly named Garena.
Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.
2C2P is a financial services company headquartered in Singapore. The company primarily provides payment gateway services to businesses.
The ShopBack Group is Asia-Pacific's leading shopping, rewards, and payments platform, serving over 38 million shoppers across ten markets. ShopBack offers a suite of products to their users - from Cashback through purchases both Online and In-Store, Vouchers and deals, as well as payment options.
PT Tokopedia is an Indonesian e-commerce company. Tokopedia is a subsidiary of a new holding company called GoTo, following a merger with Gojek on 17 May 2021. It is one of the most visited e-commerce platforms in Indonesia.
Grab Holdings Inc. is a Singaporean multinational technology company headquartered in One-North, Singapore. It is the developer of a super-app for ride-hailing, food delivery, and digital payment services on mobile devices that operates in Singapore, Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam.
Lazada Group is an international e-commerce company and one of the largest e-commerce operators in Southeast Asia, with over 10,000 third-party sellers as of November 2014, and 50 million annual active buyers as of September 2019.
Ant Group, formerly known as Ant Financial, is an affiliate company of the Chinese conglomerate Alibaba Group. The group owns the world's largest mobile (digital) payment platform Alipay, which serves over 1.3 billion users and 80 million merchants, with total payment volume (TPV) reaching CN¥118 trillion in June 2020. It is the second largest financial services corporation in the world, behind Visa. In March 2019, The Wall Street Journal reported that Ant's flagship Tianhong Yu'e Bao money-market fund was the largest in the world, with over 588 million users, or more than a third of China's population, contributing cash to it.
PT Gojek Indonesia is an Indonesian on-demand multi-service platform and digital payment technology group based in Jakarta. Gojek was first established in Indonesia in 2009 as a call center to connect consumers to courier delivery and two-wheeled ride-hailing services. Gojek launched its application in 2015 with only four services: GoRide, GoSend, GoShop, and GoFood. Valued at US$10 billion today, Gojek has transformed into a super app, providing more than 20 services.
Funding Societies is a Southeast Asia’s digital financing platform for small and medium-sized enterprises (SMEs), headquartered in Singapore. It was the first such platform in Singapore to engage an escrow agency to independently and safely manage investors’ funds. In Indonesia it is known as Modalku. Since its launch, it has disbursed more than US$2.6 billion in business financing to MSMEs through more than 5.1 million loan transactions.
PT Trinusa Travelindo, operating as Traveloka is an Indonesian technology company focused on travel and ticketing. Operating a services website of the same name and based out of Jakarta, Indonesia, Traveloka is active in six countries, and in 2022 remained the largest online travel app in Southeast Asia. Founded in 2012 as a travel search engine, it now also offers services such as attraction tickets, activities, transportation rentals, and restaurant vouchers. It also provides financial services such as credit and insurance. Classified as a unicorn company and regarded as functionally similar to Expedia, in 2022 it was valued approximately at US$3 billion.
Shopee Pte. Ltd., under the trade name "Shopee," is a Singaporean multinational technology company specialising in e-commerce. It is a subsidiary company of Sea Limited. It was launched in 2015 in Singapore, before its global expansion.
Forrest Li Xiaodong is a Singaporean billionaire businessman. He is the founder, chairman and chief executive officer of Sea Limited, a company with subsidiaries including Garena and Shopee. He is also the chairman of Lion City Sailors FC, which is owned by Sea.
Free Fire is a free to play battle royale game developed and published by Garena for Android and iOS. It was released on 8 December 2017. It became the most downloaded mobile game globally in 2019 and has over 1 billion downloads on Google Play store. In the first quarter of 2021 it was the highest grossing mobile game in the US. In November 2019, it surpassed $1 billion in lifetime revenue. As of 2021, Free Fire had surpassed 150 million daily active users.
Shanghai Moonton Technology Co. Ltd., commonly known as Moonton, is a Chinese multinational video game developer and publisher owned by the Nuverse subsidiary of ByteDance and based in Shanghai, China. It is best known for the mobile multiplayer online battle arena (MOBA) game Mobile Legends: Bang Bang released in July 2016.
Dymon Asia is an Asia-focused investment management firm based in Singapore. It is considered one of the largest hedge funds in Singapore and Asia.
Ninja Van is a Singaporean logistics company. Founded in 2014, the company engages in last mile logistics and package delivery. Ninja Van has sorting warehouses across Southeast Asia, in Singapore, Myanmar, Malaysia, Philippines, Indonesia, Thailand and Vietnam.
PT GoTo Gojek Tokopedia Tbk, trading as GoTo, is an Indonesian technology company. The company was formed in 2021 in a merger — the largest in the country at that time between Indonesia's two most valuable startups, ride-hailing giant Gojek and e-commerce firm Tokopedia.