Singapore’s SEA doubles revenue as tech battle grows

Shopee ranked first in the shopping category in Southeast Asia and Taiwan by average monthly active users and total time spent in app among Android users for the first quarter, Sea said, citing App Annie.

SINGAPORE: SEA Ltd., Southeast Asia’s most valuable company, more than doubled revenue in the first quarter, though losses swelled as it spent to ward off competition in the regional e-commerce and online entertainment arenas.

Sales rose to $1.76 billion in the three months ended March from $714.9 million a year earlier, the Singapore-based company said in a statement on Tuesday. Net loss widened to $422.7 million from $281.5 million.