Asian e-commerce giant Shopee's second-quarter revenue reaches $1.2 billion

According to financial data provided by Shopee, the e-commerce unit of Singaporean tech giant Sea Group, its GAAP revenue increased 161% year-on-year to US$1.2 billion in the second quarter.

In the report, Shopee said that the reason for the increase in revenue was the expansion of its market size and coverage, and continued business in Southeast Asia, Taiwan and Latin America. In the second quarter, Shopee processed about 1.4 billion orders, and the total order volume increased by 127% year-on-year. At the same time, Shopee's total merchandise transaction volume (GMV) reached US$15 billion, an increase of 88% year-on-year.

Later, Forrest Li, CEO of Shopee's parent company Sea Group, told shareholders in a conference call after the release of the quarterly report that "this deepening monetization is mainly due to merchants' increased marketing and advertising investment on the Shopee platform to better attract and serve buyers."

Forrest Li emphasized at the meeting that "Although the e-commerce industry is currently turbulent, Shopee's performance shows that we have the ability to adapt quickly to the environment and can meet the changing needs of users well. While Shopee is successful, we are also constantly giving back to the community, donating medical supplies, supporting vaccination programs, and taking various initiatives with local governments and partners to help small and medium-sized enterprises through difficult times."

In addition, Forrest Li pointed out that according to F&E data, Shopee is the most downloaded app on Google Play and the second most downloaded app on Google Play and iOS App Store in the global shopping category in the second quarter. Shopee ranks third in total time spent in the global shopping category. Shopee remains the number one mobile app in Southeast Asia and Taiwan in terms of average monthly active users and total time spent in the shopping category this quarter.

Finally, Forrset Li said that Shopee will continue to invest in efficient and sustainable growth to maximize long-term value. Although there may be cyclical fluctuations due to shopping seasons and activities, in the long run, this situation will improve as Shopee continues to expand. In the future, Shopee will also launch more new features and plans to support a diverse group of sellers and provide better services to sellers.

Shopee

Financial Report