SG’s Sea more than double losses on e-commerce spending!!!!!

[micromachine]

SINGAPORE ― Sea, the operator of Southeast Asia’s biggest gaming platform, said losses more than doubled in the first quarter on rising costs at mobile-shopping unit Shopee as it strives to lure more users with shipping and other promotions.

The Singapore-based gaming and e-commerce company said its net loss during the three months ended in March was US$215.6 million (S$290 million), compared with US$73.1 million a year earlier. Total revenue rose 65 per cent to US$155 million.

Sea, which initially modeled itself on China internet giant Tencent Holdings, has struggled since its initial public offering in October.

More at https://tinyurI.com/yadogklr

 

[greedy and cunning]

if it is the other way round , Tencent copied SEA ,
it would immediately attract all those mental cases here
the threads would be flooded with all kind of anti-chinks posts

 

[ChokBoon]

They bet on their subsidiary Shopee in Taiwan and hopes to extend to Southeast Asia (including Singapore). However in the past 18 months, Shopee was in an attrition war with PCHome in Taiwan and Carousel in Singapore.

 

[mojito]

Don’t blame others. Who ask them name themselves Sea? Haven’t huat they “sea” already! Choi choi choi! So inauspicious!

 

[Scrooball (clone)]

Ecommerce losing money? Must be damn fucked up!