Garena’s Parent Company SEA Limited Lost USD 1.46 Billion For 2019 PC 

Last Tuesday SEA Limited, the parent company of Garena, posted their annual financial report and many can’t believe that despite its claims of strong growth on its digital entertainment and e-commerce platforms, has lost a whopping USD 1.46 Billion for the year 2019.



But what is more surprising is that ever since 2017, SEA Limited is already losing a total net loss of nearly USD 3 Billion. The e-commerce platform Shopee who is also under the wing of SEA limited and one of the well-known pioneer of online buy and sell trade in Southeast Asia was reported to be the one who causes the over USD 1 Billion lost for SEA Limited. Shopee who started in Singapore and finally reach the shore of other countries like the Philippines, Brazil, and Vietnam was known to be one of the top 5 Disruptive e-commerce startups according to Tech Asia in 2015. However SEA Limited group chief corporate officer Yanjun Wang stated that Shopee will still continue to maximize its market leadership until it leads “to better profitability and competitive modes in the long run.”

The only question that hangs in the air now is how this lost can affect Garena as the top-performer among the platforms of SEA Limited. Garena is a southeast Asia base digital service company popularly known as a game distributor across Southeast Asia and Taiwan. These games include League of Legends, PUBG Lite, Call of Duty Mobile and others. Earlier this year, Garena recently acquired Phoenix Labs who develops the popular co-op action RPG Dauntless. Moreover, the battle royale game Free Fire under Garena was reported to be the most downloaded mobile game last 2019 as it hit its peak of 60 million daily active users.

With these milestones reached by Garena, could it possible that an unseen problem caused by the billion loss of its parent company might hinder its promising growth?
 

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