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In this video, I will be talking about the gigantic Singaporean company called Limited sea (NYSE: SE). I’ll review its three main segments, Garena, Shopee, and Sea Money, as well as its future expansion in Europe and a possible challenger TikTok app in the works. You can find the video below.
Global expansion
Sea, which is an acronym for Southeast Asia, has spread around the world, most recently in Latin America. Shopee launched in Brazil in 2019. News recently announced that it would enter India with its Shopee e-commerce app, and Poland could be its first European country.
Over the weekend, an article first appeared in Chinese on Momentum Works’ WeChat platform claimed that Shopee could potentially launch a short video app in Southeast Asia to directly challenge TikTok. Whether these rumors will turn out to be true remains to be seen. But news like this, released just days after Sea Limited raised $ 6.3 billion, could raise eyebrows.
Accelerate growth
Sea Limited pulls on all cylinders. Total GAAP revenue was $ 2.3 billion in the second quarter, up 158.6% year-over-year. The digital entertainment segment, which includes popular gaming Free fire, has seen the number of paid users grow faster than active users. Bookings were $ 1.2 billion, up 64.8% year-on-year. Free fire also recently hit one billion downloads from the Google Play Store.
The e-commerce side, which is Shopee, reported GAAP revenue of $ 1.2 billion, up 160.7% year-over-year. Gross orders totaled 1.4 billion, an increase of 127.4% year-on-year. And finally, Sea Money. Quarterly paid users for mobile wallet services increased to 32.7 million in the second quarter, more than double year-on-year.
The company has raised its forecast for digital entertainment and e-commerce for the full year of 2021. It now expects 44.4% year-on-year growth for its digital entertainment segment and 121. 5% for that of electronic commerce.
For a full rundown, watch the video below.
* The stock market prices used were the closing prices of September 10, 2021. The video was posted on September 12, 2021.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.
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