Forrest Li on how Sea navigated “rocky seas” to achieve its 1st profitable year since IPO

Quick Summary:

Sea Limited's Chairman and CEO Forrest Li shares insight on how the company overcame challenges in the tech industry at SFF 2024 last week.

CNA’s Syahida Othman, the moderator for the fireside chat with Li, described the tech industry as cutthroat as the sector saw a series of layoffs, salary freezes, widening losses, and slower revenue growth.

In March this year, Sea Limited reported its first profitable year since its IPO in 2017, with a net profit of about US$163 billion and earned revenue of US$13.1 billion in 2023—a sharp turnaround from its US$1.7 billion in 2022.

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Article Details

Author / Journalist: Jayme Teo

Category: StartupsBusiness

Markets: SingaporeIndonesiaMalaysia

Topics: Singaporean startups Sea limited Singaporean Tech giants Singapore fintech festival 2024 Fintech Editor's Picks Forrest li Entrepreneur Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 10:37:55 (2 days ago)

News Timezone: GMT +8:00

News Source URL: vulcanpost.com

Language: English

Article Length: 826 words

Reading Time: 5 minutes read

Sentences: 33 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Vulcan Post

News ID: 23515735

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About Vulcan Post

Main Topics: StartupsBusiness

Official Website: vulcanpost.com

Year Established: 2015

Headquarters: Singapore

News Last Updated: 2 days ago

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