Sea launches investment arm, expects e-commerce sales to double in 2021


Sea e-commerce arm Shopee reported $842.2 million in e-commerce revenues for the last three months of 2020

SINGAPORE (Reuters) - Southeast Asian e-commerce and entertainment group Sea said on Tuesday it would launch an unit to manage its investments, as well as its own artificial intelligence labs.

Called Sea Capital, the investment arm is the result of the acquisition of a Hong Kong-licensed global investment management firm and will launch with an initial $1 billion in capital.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Sea , Sea Capital , Shopee

   

Next In Business News

S&P 500, Nasdaq poised for higher open as investors await inflation data
RF Acquisition II closes US$115mil IPO on Nasdaq
SC will develop framework on social exchange implementation
Genetec anticipates increasing demand for its automation solutions
Leon Fuat optimistic on long-term prospects
Maybank to launch white papers on net zero pathway for oil palm, power sectors
Favelle Favco hopeful for increased orders amid global recovery
Tex Cycle reports strong 1Q profit
Ringgit firmer against US dollar at the close
Fajarbaru gets RM15.71mil contract extension from Australian Department of Defence

Others Also Read