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SEA ECOMMERCE LOSSES
Explainer: The Hormuz digital chokepoint - How does the Iran war threaten subsea cables?The narrow waterway, already a chokepoint for global oil shipments, is equally vital for the digital world. Several fibre-optic cables snak...- The Hormuz digital chokepoint: How does the Iran war threaten subsea cables?Iran has highlighted the vulnerability of submarine cables in the Strait of Hormuz. These vital undersea links carry 99% of global internet...
- The Hormuz digital chokepoint: Where oil, war and the internet collideIran has highlighted the vulnerability of submarine cables in the Strait of Hormuz. These vital undersea links carry 99% of global internet...
- Sea posts surprise loss on hefty ecommerce investments, shares fallRising competition from Alibaba Group's Lazada and ByteDance's TikTok, along with new entrants like PDD's Temu, have forced Sea to revamp i...
- TikTok plans to ban links to e-commerce websites such as Amazon: ReportThe move is seen as a way for the company to force people to use TikTok Shop if they want to purchase an item that they see on the app.
- Sea CEO declares 5% raises after Singapore firm turns a profitSea Ltd. said it is giving most employees a 5% pay increase after turning profitable, a milestone for the Singapore e-commerce and gaming c...
- Singapore's Sea cuts more jobs at ecommerce unit Shopee: reportIn September, Bloomberg reported that Sea cut 3% of employees at the Indonesian unit.
- China's JD.com reports higher fourth-quarter adjusted profitRevenue rose 7.1% to 295.4 billion yuan in the three months ended December, missing analysts' estimates of 296.17 billion yuan, according t...
- Expect ecommerce volumes to grow 15-20% in 2023: Delhivery CEO Sahil BaruaWhile some e-tailers may go through ups and downs based on their respective funding situation, the broad arc of e-commerce remains positive...
- Indonesia's GoTo to cut 1,300 jobs to step up cost cutting"Challenging global macroeconomic conditions are having a significant impact on businesses around the world and GoTo, like other prudent co...
- Singapore-based Sea Ltd laid off 10% of workforce over past six months: reportSingapore-based Sea Ltd has laid off more than 7,000 employees, or around 10% of its workforce, over the past six months, the Information r...
- Indonesia's GoTo plans to cut over 1,000 jobs in bid to reach profitThe reduction, equal to more than 10% of the workforce, will affect all divisions, said the people, who asked not to be identified as the d...
- Ecommerce firm Shopee tells sacked employees to pay for computersIn recent weeks, Southeast Asia's largest ecommerce firm has cut jobs in various countries and shut down some overseas operations. Shopee's...
- Sea Ltd shuts operations in some Latam countries, cuts Free Fire staff in ShanghaiShopee Chief Executive Chris Feng said in an internal email seen by Reuters that "in light of the current elevated macro uncertainty," Sea ...
- Tech workers left hanging as Sea e-commerce arm Shopee rescinds job offersFour people interviewed by Reuters who have participated in a WeChat group of some 60 people that was set up to discuss Shopee's withdrawal...
- Indonesian blockbuster IPO to set tone for Southeast Asia tech sectorPT Bukalapak.com Tbk, a 11-year-old e-commerce company backed by Ant Group, Singapore sovereign fund GIC and local media and tech conglomer...
- ASX 200 closes flat; Australia shares end mixed as Sydney lockdown disrupts travelThe S&P/ASX 200 index was flat at 7,307.3 points, with travel and technology stocks leading losses.
- The 880% stock rally that’s trouncing Tesla and everything elseThis stock has quietly become the world’s best-performing large-cap stock, stoking a debate on Wall Street over whether the Singapore-based...
- Southeast Asia’s most valuable startup Sea raises $884 million in IPOThe games company is backed by Tencent Holdings Ltd. and has benefited from the Chinese company’s support.
- For well-funded big boys of ecommerce, profits can wait, discounts can’tThe insane cash burn makes a mockery of the attempts of fellow ecommerce players — mostly tier-2 players — sweating it out to show profit.
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