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 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'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.