This company has its game face on for new frontiers

SINGAPORE (Nov 18): This year, a newcomer joins the ranks to capture a slice of the online shopping pie: Shopee, powered by Southeast Asia’s most valuable start-up, Garena.

There are about 1.5 million registered sellers on Shopee, while 70% of the user base comprises repeat customers. Garena recently raised US$170 million in Series D funding to help Shopee grow in Southeast Asia. During its inaugural 9.9 Mobile Shopping Day sale this year, orders increased fivefold.

But the rise of flash sales and online shopping also signals an underlying problem in Southeast Asia: Many e-commerce platforms have not started to think about profits. Meanwhile, retailers and logistics partners are starting to feel the pinch from lower margins as competition among marketplaces grows.

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