Sea predicts sales doubling as online shopping boom persists

Popular platform: Sea forecasts 2021 revenue at Shopee of US$4.5bil to US$4.7bil, up from US$2.2bill in 2020. — Reuters

SINGAPORE: Sea Ltd expects e-commerce revenue to double in 2021, sustaining its torrid pace of growth as South-East Asia’s most valuable company counts on regional online shopping demand to persist after the pandemic.

Revenue rose to US$1.6bil in the last three months of 2020 from US$777.2mil a year earlier, Singapore-based Sea said in a statement. Net loss widened to US$523.6mil from US$283.8mil.