Shopee’s parent company, Sea Limited (“Sea”), announced the pricing of its initial public offering and trading of its American depositary shares on the New York Stock Exchange. As the first internet business of scale from Greater Southeast Asia to become listed on the New York Stock Exchange, this is a significant milestone for Sea and its businesses, including Shopee.
Chris Feng, CEO of Shopee, said: “The listing day is a big day for the Sea group, including Shopee as well as Garena and AirPay. As we embark on this new journey, we are excited about the opportunities it will present for our business, employees and most importantly our customers.
Shopee celebrates a milestone with Sea – Shopee’s parent company, Sea, is the first internet business of scale from Greater Southeast Asia to be listed on the New York Stock Exchange. Shopee’s executives (from left) Lim Yizhen from Regional PR, Public Relations Manager Erin Tagudin, Community Manager Megann Jabola, Head of Operations Karen Perez and Head of Business Intelligence Martin Yu celebrate the milestone with their top sellers, corporate partners and media friends.
Our home market is an exciting region, with one of the largest millennial populations in the world, and GDP growth over twice as fast as in the US. Internet and smartphone penetration is still low compared to the US and China, and we are confident in its continued growth and the tremendous potential this presents across our seven markets, namely Indonesia, Vietnam, Thailand, the Philippines, Taiwan, Malaysia, and Singapore.
Since Shopee’s inception in 2015, we have worked to empower local entrepreneurs and serve local consumers. For example, Shopee Philippines’ nationwide free shipping service provides cost-savings to consumers, while Official Shops provide users with an even wider range of product assortment from leading brands. Also, our seller-driven initiatives, such as Shopee University, serve to help local entrepreneurs and businesses succeed in an increasingly competitive online shopping environment.
The combination of our strong home-court advantage, a deep understanding of our markets, and our on-the-ground local presence has enabled us to identify and cater to their needs – and this is reflected in the success we have had attracting 1.6 million active seller partners, plus another 1,700 brands and larger retailers to our platform.
Looking ahead, while we are proud of what we have accomplished so far, we know we have a lot of work to do to continue to realize Shopee’s potential. We remain as committed as ever to fulfilling Sea’s mission to improve the lives of the region’s consumers and small businesses with technology.”
Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It is a platform tailored to the region, providing customers with an easy, secure and fast online shopping experience through strong payment and logistical support. Shopee aims to continually enhance its platform and becomes the region’s e-commerce destination of choice. Shopee has a wide selection of product categories ranging from consumer electronics to home & living, health & beauty, baby & toys, fashion and fitness equipment. Shopee was first launched in Singapore in 2015, and has since expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam and the Philippines.