SEA Group has profitable Q2; revenue rises to $1.29 billion.

Shopee continues rising.


Alfred Lee

21 Aug, 2020

SEA Group has profitable Q2; revenue rises to $1.29 billion. | BEAMSTART News

- From our Sponsors -

SEA Group, the parent company of e-commerce platform, Shopee, and gaming publisher, Garena, has had a significant growth this second quarter.

In a statement by the company, revenues for Q2 2020 rose to US$1.29 billion, nearly doubling from the previous year's (93.4% year-on-year growth).

The company also had a profitable quarter, at $7.7 million EBITDA. The company had a $11 million loss during the same period last year.

Sea Ltd.'s management: (from left) Forrest Li, Chairman and Group CEO, Gang Ye, Group Chief Operating Officer and David Chen, Chief Product Officer, Shopee. (Source: SEA Ltd.)

The SouthEast Asian internet giant adds that much of its growth were attributed to the pandemic lock-downs, where online shopping and gaming rose significantly during this period.

The company has also expanded upon its financial services business, SeaMoney, with payment volumes for the company’s e-wallet exceeded US$1.6 billion across 15 million paying users for the quarter. 

- From our Sponsors -

Latest Jobs

Frontend Engineer

Vital

London, United Kingdom, United States

Full Time

USD 80000 — USD 150000 yearly

Kubernetes Engineer

Porter

New York, United States

Full Time

Salary Undisclosed

Software Engineer (LLMs)

SkyLink

New York, United States

Full Time

USD 135000 — USD 190000 yearly

Junior Graphic Designer

Legistify

Gurugram, India, United States

Full Time

USD 40000 — USD 65000 yearly

✨ Founding Product Designer

Replo

San Francisco, United States

Full Time

USD 150000 — USD 200000 yearly

Product Manager (Technical)

Miso

Seoul, South Korea, United States

Full Time

Salary Undisclosed

Head of Design

Fizz

United States

Full Time

USD 80000 — USD 200000 yearly

CAD / Surface Sculptor

UNISON

Mountain View, United States

Full Time

USD 150000 — USD 180000 yearly

Product Designer #1

CUTR

Amsterdam, Netherlands, United States

Full Time

USD 70000 — USD 110000 yearly

Brand Designer

Odeko

New York, United States

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2024 BEAMSTART. All Rights Reserved (Legal).