Sea

Revenue rose to lớn US$1.6 billion (S$2.12 billion) in the last three months of 20đôi mươi from US$777.2 million a year earlier.PHOTO: SEA LIMITED
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SINGAPORE (BLOOMBERG) - Sea Ltd expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as South-east Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.

Revenue rose to US$1.6 billion (S$2.12 billion) in the last three months of 2020 from US$777.2 million a year earlier, Singapore-based Sea said on Tuesday (March 2) in a statement. 

Net loss widened to US$523.6 million from US$283.8 million, as fourth-quarter sales và sale expenses climbed 95 per cent khổng lồ US$665.2 million, led by digital financial services.


Sea, backed by Tencent Holdings, has emerged as a stock-market sensation since its initial public offering in New York in 2017, as investors bet the company can establish itself as a leader in e-commerce and gaming in South-east Asia. Aý muốn companies valued at US$100 billion or more, the stoông xã is the No. 1 performer in Asia since the start of last year and only trails Tesla globally.

It’s also trying khổng lồ establish fintech as a third growth driver.

Sea said on Tuesday it’s acquired Composite Capital Management, a Hong Kong-licensed global investment management firm. The company will deploy US$1 billion toward Sea Capital, a newly established platkhung to manage its overall investments. Composite Capital founder David Ma - a former partner at Chinese private equity giant Hillhouse - becomes Sea Capital’s chief investment officer, reporting lớn Sea chief executive officer Forrest Li.

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“Sea’s growth prospects remain promising, riding on the growing digital economy in the region,” Citigroup analysts led by Alicia Yap wrote. “Guidance could prove conservative sầu.”

The pandemic is helping to spur dem& at Sea’s e-commerce business Shopee, with fourth-quarter sales increasing 178 per cent to lớn US$842.2 million. Sea forecast 2021 revenue at Shopee of US$4.5 billion to lớn US$4.7 billion, up from US$2.2 billion in 20đôi mươi.

Hit điện thoại game Free Fire is fueling growth at Sea’s digital entertainment service Garemãng cầu, whose sales last quarter rose 71.6 per cent lớn US$693.4 million. Sea forecast Garena’s annual bookings - sales plus changes in deferred revenue - will increase khổng lồ US$4.3 billion to US$4.5 billion in 2021.

Its e-wallet service gained traction, with payment volume exceeding US$2.9 billion for the quarter & US$7.8 billion for the full year. Sea is trying to build financial services into lớn its third growth pillar.

For 20đôi mươi, Sea posted total digital entertainment bookings of US$3.2 billion.

Annual revenue at Garemãng cầu rose 77.5 per cent to US$2 billion.

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Sea"s American depository receipts closed up 1.49 per cent at US$250 in Thủ đô New York on Tuesday, after earlier surging as much as 11 per cent.


Chuyên mục: Marketing