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Shopee's revenue grew 160% in Q2; generating $1.2 billion

Shopee is also turning profitable in Malaysia


Shopee's revenue grew 160% in Q2; generating $1.2 billion | BEAMSTART News

Shopee, one of Southeast Asia's largest online marketplaces, has grown significantly over the past year.

The company posted a 160.7% year-on-year revenue growth, amounting to $1.2 billion for Q2 2021.

Shopee Food is expected to arrive in Malaysia later this year.

Shopee turning profitable in Malaysia

Shopee's Malaysian business is also slowly turning profitable, achieving EBITDA positive for the quarter.

Malaysia marks Shopee's second market to turn profitable after Taiwan, with plans to introduce food delivery services later this year.

Shopee founder, Forest Li.

Shopee's growth on an upward trajectory

At the rate the Shopee is growing, the company is expected to generate an estimated $4.7 billion to $4.9 billion for the year.

This would be a 121.5% growth from 2020.

ABOUT THE AUTHOR

Kenneth Ho

Founder & Director @ BEAMSTART. Just launched a VC fund to accelerate awesome startups.

ALSO MENTIONED IN THIS POST

Shopee

Shopee is the leading eCommerce platform in Greater Southeast Asia.

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