Technology

Shopee suddenly withdrew from the Indian market

Mar 28, 2022 20:25 GMT+7 E-commerce company Shopee, is leaving the Indian market, just months after launching in the country. Shopee, the e-commerce arm of Sea Ltd in Southeast Asia, announced on Monday (March 28) it will close its Indian operations due to uncertainties in the global market. Shopee launched in India in November 2021, […]

Technology

Shopee’s parent company under profit pressure

Game and e-commerce conglomerate Shopee is focusing on improving profitability after a staggering 2020 growth thanks to Covid-19. Thanks to the trend of working from home due to Covid-19, Sea saw a positive growth. On March 2, the Singaporean company reported revenue of $ 4.37 billion in 2020, double that of 2019. However, the net […]

Technology

Shopee’s parent company slowed its growth

Third-quarter results for Sea, Southeast Asia’s most valuable company, show that growth in e-commerce has slowed. Sea’s third quarter revenue more than doubled, reaching $ 1.2 billion. Sea also raised its annual forecast for two main businesses. However, net loss also doubled, to 419.9 million USD. Growth in total transaction value (GMV) in e-commerce fell […]