How Sea, one of Southeast Asia's largest internet companies that burned billions per year for market share, made huge cuts to turn its first profit in 14 years
Just over a year ago, Forrest Li was laid up in bed with Covid, fretting about the future of his company, Sea Ltd. So he propped himself …
A year ago, Singapore's Sea looked like another money-losing startup that may not survive the tech downturn. Then CEO Forrest Li started cutting costs, from business class flights to two-ply toilet paper. The inside story from @yoolimleenews @BradStone https://www.bloomberg.com/.…
Business-class flights were banned, snacks from offices disappeared and thousands of jobs were cut. But Singapore's Sea seems to be back on the path to profit after a ruthless cost-cutting drive https://www.bloomberg.com/...
Coming out of the 2022 tech wreck, there will be many more $AKAM's / $CSCO's vs. $AMZN's. $SE pulled forward its profitability expectations by more than a year. FY23 profitability looks more likely than managements previous guidance of FY24 profitability. https://www.bloomberg.co…
Last week, it said it would hand out 5% raises to most staff. Sea has now more than doubled its market value since November. https://www.bloomberg.com/...