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'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.
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.
Shopee is the leading eCommerce platform in Greater Southeast Asia.
Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.
BEAMSTART is a Global Community and News Portal for Entrepreneurship. We cover the latest news and bring together a global network of CEOs/founders, Investors, Business Leaders, and Professionals.
Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities: