Shopee's GMV in the third quarter reached US$16.8 billion, a year-on-year increase of 130%

Overall, the group's GAAP revenue in the third quarter was US$2.7 billion, up 121.8% from the same period last year; gross profit was US$1 billion, up 147.5% year-on-year; and adjusted EBITDA was US$165.5 million, compared with US$120.4 million in the third quarter of 2020.

In terms of e-commerce, Shopee's GAAP in the third quarter was US$1.5 billion, a year-on-year increase of 134.4%. Among them, GAAP market revenue was US$1.2 billion, a year-on-year increase of 151.4%; GAAP product revenue was US$300 million, a year-on-year increase of 82.2%. In addition, Shopee's total orders were 1.7 billion, a year-on-year increase of 123.2%, maintaining triple-digit growth for nine consecutive quarters; gross merchandise value (GMV) was US$16.8 billion, a year-on-year increase of 80.6%; adjusted EBITDA was US$683.8 million, and US$301.6 million in the third quarter of 2020.

From this perspective , Shopee's performance is still very stable, even stronger than the previous third-party forecast data.

In addition, the report also pointed out that data from App Annie showed that globally, Shopee ranked first in total app time in the Google Play Shopping category, and ranked second in downloads and average monthly active users in the third quarter of 2021; in Brazil, Shopee was launched in late 2019, but its downloads and total app time continued to rank first in the shopping category, and continued to rank second in average monthly active users in the third quarter.

Given Shopee's performance, SEA has again raised its full-year 2021 e-commerce guidance, expecting e-commerce GAAP revenue to be between US$5.0 billion and US$5.2 billion, compared with the previous forecast of between US$4.7 billion and US$4.9 billion.

In addition, SEA said it is helping sellers become more competitive. For example, Shopee has loaded more features, tools and services to help them engage with customers and grow their business.

Shopee recently launched its Seller Rewards Program. The program gamifies the seller’s experience as it walks them through features and tools on Shopee that they can use to become better sellers. Shopee has also introduced tools such as the Item Optimizer to help sellers identify items that can be improved and how to improve them.

In addition to continuing to develop in Southeast Asia and South America, Shopee has recently launched sites in Poland, France, Spain and India, which reflects Shopee's e-commerce ambitions.

Shopee

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