|Shopee office in Việt Nam. — VNS Photo|
HCM CITY — Shopee Vietnam on Tuesday announced that its parent company, Sea Limited (Sea), made its initial public offering on the New York City Stock Exchange.
The company is the first internet business from greater Southeast Asia to become listed on the New York City Stock Exchange.
This is a significant milestone for Sea Limited and its businesses, including Shopee, the company said.
Chris Feng, CEO of Shopee, said: “The listing day is a big day for the Sea group, including Shopee. As we embark on this new journey, we are excited about the opportunities it will present for our business and employees, and most importantly, our customers.
“Our home market is an exciting region, with one of the largest millennial populations in the world, and GDP growing twice as fast as in the US. Internet and smartphone penetration is still low compared to the US and China, and we are confident in its continued growth and the tremendous potential this presents across our seven markets, namely Indonesia, Việt Nam, Thailand, the Philippines, Taiwan, Malaysia and Singapore,” he said.
Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It is a platform tailored for the region.
The company has a wide selection of product categories ranging from consumer electronics to home and living, health and beauty, baby and toys, and fashion and fitness equipment.
Shopee was launched in Singapore in 2015, and has since expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Việt Nam and the Philippines.
The company has attracted 1.6 million active seller partners, plus another 1,700 brands and larger retailers, to its platform. — VNS