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Sea Limited
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Latest analysis
Updated Oct 20, 2026
Sea marks 9 years public by unveiling Sea Cloud, an AI-first enterprise platform built on decade of internal infrastructure expertise.
On its IPO anniversary, Sea Limited announced Sea Cloud, a new AI-first enterprise cloud platform that will commercialize the internal infrastructure backbone that has powered Garena, Shopee, and Monee to scale. CEO Forrest Li positioned the move as the next wave in Sea's cycle of building, listing, and starting again—explicitly signaling Monee (financial services) as a near-term candidate for public markets. The announcement marks a strategic pivot to monetize infrastructure capabilities developed over 10+ years and recently rebuilt by ~500 engineers to support AI applications across the group.
Tone: bullishRevenue
$22.9B
SE 20-F · FY 2025
Revenue FY2024
$16.8B
Founded
2009
Headquarters
Singapore
Profile
SE 20-F Item 4.B · Apr 17, 2026Sea Limited is a Singapore-headquartered global technology holding company operating three core businesses: Shopee (e-commerce), Monee (digital financial services), and Garena (digital entertainment). Founded in 2009, Sea serves consumers and small businesses across Southeast Asia, Taiwan, and Latin America through mobile-first, localized platforms. Each business is designed to generate virtuous cycle dynamics that reinforce user acquisition, engagement, and monetization across the ecosystem.
Read filing description ↓ Collapse description ↑
Sea is a global technology company operating three core businesses of e-commerce, digital financial services, and digital entertainment, known as Shopee, Monee and Garena. Each business is localized to meet the unique characteristics of our diverse markets. Shopee is the largest e-commerce platform in Southeast Asia and Taiwan and is a leading e-commerce platform in Brazil. Since its inception, Shopee has adopted a mobile-first approach and is a highly scalable marketplace platform that connects buyers and sellers. Shopee provides users with a convenient, safe and trusted shopping environment that is supported by integrated payment, logistics, fulfillment, and other value-added services. Monee is a leading digital financial services provider in Southeast Asia with a growing presence in Latin America. Monee currently offers consumer and SME credit, e-wallet, payment processing, banking, insurtech, and wealth services. Garena is a leading global online games developer and publisher. Garena provides users with access to popular and engaging mobile and PC online games that we develop, curate, license and localize for each market. We also promote esports in our markets to strengthen our game ecosystem and increase user engagement. Each of our businesses provides a distinct and compelling value proposition to our users, and each exhibits strong virtuous cycle dynamics, which we believe support our leadership position and provide a strong foundation for continued growth while creating strong competitive moats.
Primary products
- Shopee marketplace platform
- Fulfilled by Shopee
- Shopee Mall
- Shopee Live
- Shopee Coins
- Shopee Prizes
Business segments
End markets
Geographies
Named competitors
“Shopee is the largest e-commerce platform in Southeast Asia and Taiwan and is a leading e-commerce platform in Brazil.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Reported in USD. Sea's total revenue increased from US$16.8 billion in 2024 to US$22.9 billion in 2025, driven by growth across all three segments, with Monee (Digital Financial Services) the fastest-growing segment by revenue share.
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