Sea is nearing a $100B market cap after its stock has soared 300%+ since early 2024, driven by Shopee's in-house, community-based logistics network SPX Express
Shopee now dominates the Southeast Asian e-commerce market thanks to a cavalry of retirees, homemakers and students delivering parcels
DealStreetAsia: Southeast Asian startups raised $4.56B in 2024, down 42% YoY and falling to a fifth of a 2021 peak, as the number of deals fell 10% YoY to 633
Tsubasa Suruga / Nikkei Asia :
Southeast Asian giant Sea's stock fell 29%, its largest single-day drop, wiping out nearly $10B to hit a $23B market cap, down ~$180B from a November 2021 peak
- Singapore e-commerce stock drops to lowest ever as sales slow — Competition intensifies as Alibaba, TikTok gain shopping users
Southeast Asian internet giant Sea reports Q2 revenue up 5.2% YoY to $3.1B, vs. $3.2B est., and Shopee revenue up 21% YoY, the slowest on record; SE drops 25%+
Olivia Poh / Bloomberg :
Preqin: in the first five months of 2023, VC funding for Southeast Asian startups hit $4B, down 65% compared to H1 2022, as Grab and GoTo continue to slow down
Tsubasa Suruga / Nikkei Asia : Tweets: @tito and @nikkeiasia Tweets: Tito Costa / @tito : Reality check: even at the top of a generational bubble, not enough returns were generated even by the most s...
Aspire, which provides Southeast Asian SMBs with international payments and other financial services, raised a $100M Series C led by Lightspeed and Sequoia
Olivia Poh / Bloomberg :
Singapore-based crypto exchange Zipmex suspends withdrawals, citing “volatile market conditions”
- Southeast Asian crypto exchange Zipmex announced it's halting withdrawals until further notice. — Zipmex joins Celsius, CoinFLEX, Vauld and Babel Finance in freezing client funds amid stresses in c...
Sources: Carsome, a Southeast Asian used car online marketplace, raises ~$300M led by Temasek and Qatar's sovereign wealth fund
Carsome Group, which operates a Southeast Asian used-car online marketplace, has raised almost $300 million in a financing round led by funds linked …
Grab begins trading on the Nasdaq after a record SPAC merger valuing it at $40B and raising $4.5B, the largest US listing by a Southeast Asian company
Grab, Southeast Asia's biggest ride-hailing and delivery firm, makes its market debut on Thursday after a record $40 billion merger …
Refinitiv: Southeast Asian fintech companies have raised ~$3B across 80 deals so far in 2021, more than in 2020 and 2019 combined
Financial Times : Tweets: @johnreedwrites Tweets: @johnreedwrites : While SEA super-apps Grab and GoTo get all the attention (and tons of funding), fundraising for fintechs in this region is surging ...