Sea Limited
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July 1, 2020
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Sea Limited

USD 826.97 million (2018)
USD -961.03 million (2018)
22,600 (2018)
GICS Industry Group:
May 2009
Current CEO:
Forrest Li (May 2009-)


Sea Limited is engaged in the digital entertainment, ecommerce and digital financial service businesses. These services are provided through the company's brands, which include Garena (digital entertainment), Shopee (ecommerce), and AirPay (digital financial services). Sea Limited is a limited liability company incorporated in the Cayman Islands and conducts its business primarily through its subsidiaries and variable interest entities in markets including Singapore, Thailand, Taiwan, Vietnam, Indonesia, Malaysia and the Philippines.

On May 8, 2009, the company was incorporated as Garena Interactive Holding Limited in the Cayman Islands. On April 8, 2017, the company changed its name from Garena Interactive Holding Limited to Sea Limited. Sea Limited is a holding company that does not have substantive operations. Instead, Sea Limited conducts its business through the company's subsidiaries and consolidated affiliated entities.

Sea Limited's digital entertainment business has been around since the company's inception in May 2009. In September 2012, the company had expanded the digital entertainment business to cover Indonesia, Taiwan, Vietnam, Thailand, the Philippines, Malaysia and Singapore.The company's games, such Free Fire, are also available in several continents, including parts of Asia outside of the company's primary regions, Europe, Latin America and Africa. In June and early July 2015, Sea Limited launched its ecommerce platform, Shopee, in all seven regional markets in which it primarily operates.

In April 2014, Sea Limited launched its digital financial services platform, AirPay, in Vietnam, and in June 2014 it launched AirPay in Thailand. AirPay also has limited operations in the other markets in the company's primary regions of operation.

Sea Limited's principal place of business is 1 Fusionopolis Place, Singapore.

Sea Limited went public in October 2017 and is traded on the New York Stock Exchange (NYSE) under the code SE.

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Operating Segments:

Digital entertainment – The digital entertainment segment derives the majority of its revenue from the Garena platform. The Garena platform offers mobile and PC online games and develops mobile games for the global market. Garena also provides access to other entertainment content and social features, such as live streaming of gameplay, user chat and online forums. In the year end December 31, 2018, the digital entertainment segment accounted for 55.92% (USD 462.5 million) of total revenue.

Ecommerce – The ecommerce segment derives the majority of its revenue from the Shopee platform. The Shopee platform is a mobile-centric, social-focused marketplace. It provides users with a convenient, safe, and trusted shopping environment with integrated payment, logistics infrastructure and comprehensive seller services. Products from manufacturers and third parties are also purchased and sold directly to buyers on the Shopee platform. In the year end December 31, 2018, the ecommerce segment accounted for 32.60% (USD 269.6 million) of total revenue.

Digital financial services – The digital financial services segment derives the majority of its revenue from the AirPay platform. AirPay provides a variety of payment services to individuals and businesses. AirPay is considered an important payment infrastructure which supports the company’s digital entertainment and ecommerce businesses. In the year end December 31, 2018, the digital entertainment segment accounted for 1.39% (USD 11.5 million) of total revenue.

Other services - The other services segment is made up of a combination of multiple business activities that do not meet the quantitative thresholds to qualify as reportable segments and are therefore grouped together. In the year end December 31, 2018, the other services segment accounted for 10.09% (USD 83.5 million) of total revenue.

Mergers and Acquisitions:

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