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Sea is raising up to $1.5B for its Shopee e-commerce business in Southeast Asia

sudshr47 March 6, 2019

Alibaba is about to get a jolt from its largest rival in Southeast Asia. Sea, the Nasdaq-listed business, is raising as much as $1.5 billion from a new share offering that’s sure to be funneled into its Shopee e-commerce business. Singapore-based Sea said in a filing that it plans to offer 60 million American Depositary […]

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Selfie app maker Meitu eyes overseas gaming market with $340 million deal

sudshr47 February 20, 2019

China’s largest selfie app maker Meitu has been busy working to diversify itself beyond the beauty arena in China. On Wednesday, the Hong Kong-listed company announced in a filing that it has agreed to pay about HK$2.7 billion ($340 million) for a 31 percent stake in game publishing company Dreamscape Horizon. Dreamscape Horizon, a subsidiary of […]

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E-commerce drives Southeast Asia’s Sea to record revenue but big losses remain

sudshr47 August 22, 2018

Sea, one of Southeast Asia’s largest internet companies, continues to see losses although its growing e-commerce business helped it hit record revenue. The Tencent-backed company went public back in October when it raised around $1 billion through an NYSE listing. Its latest earnings released today show revenue broke $200 million for the first time ($219.6 million) […]

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Kredivo raises $30M to build a digital credit card for Southeast Asia

sudshr47 July 25, 2018

FinAccel, a Southeast Asia-based startup that offers a digital credit card service in Indonesia, has closed a $30 million Series B round as it begins to consider overseas expansion. The company launched its ‘Kredivo’ service two years ago to help consumers pay online in Southeast Asia, where credit card penetration is typically low, and it is essentially […]

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Sea President Nick Nash is leaving to start his own Asia-focused investment fund

sudshr47 February 28, 2018

Nick Nash is leaving his role as group president of Sea, the Singapore-based games and e-commerce company that went public in the U.S. last year, to start his own startup fund.
Sea announced that Nash will exit the company at the end of 2018, giving it plenty of time to transition and find a replacement. In the meantime, TechCrunch understands that Nash will begin fundraising with a view to… Read More