SEA (formerly known as Garena)

[specuvestor]

I missed investing in SEA though I've met the IR / strategist a few years from 2016 when it was bleeding money and looking to IPO. I couldn't see how shopee can upset the Lazada backed by Ali Baba and the indonesian incumbents Tokopedia and Bukalapak that knows the country well which focuses on high volume low margin model. And after Ronaldo's advertisement I thought I must be right

Shopee has indeed executed much better than I can ever imagine. Worst part is I'm still not sure why even with weijian's article

Private equity is about "what is possible" and public equity is about "what is probable".

IMHO, SEA's game biz looks to have the best bang of the buck for success. It's other focus like e-commerce/message/payment systems are all network-effect type of businesses and generally is "winner takes all". I suspect if one isn't big now, most probably it would never be big since the big boys naturally have their size as the moat.

Welcome to the public equity space (soon)!

I am terribly wrong (of course). What is possible, became possible - low probability but large payoffs - a classic asymmetric bet which I think I will take much time to learn.

Here’s how Lazada lost its lead to Shopee in Southeast Asia

In 2018, however, Shopee seized the opportunity to launch an offensive in light of Lazada’s stagnation in Southeast Asia, led by CEO Chris Feng. Today, Shopee’s market capitalization has exceeded USD 120 billion. It is said by Shopee’s employees that 80% of Sea Limited’s stock price is supported by Shopee’s growth potential, while 80% of Shopee is supported by Feng.

https://kr-asia.com/heres-how-lazada-los...art-1-of-2