It’s often said that what goes up must come down. And there’s probably nothing that symbolises this better than the stock price of Southeast Asia’s most valuable tech company, Sea Ltd.

Sea, whose two major pillars are gaming and e-commerce, enjoyed a fantastic bull run during the pandemic. At its peak in October 2021, the stock price hit US$366.99, valuing the company at a jaw-dropping US$200 billion.

And Sea wasted no time in riding that momentum. It leveraged the public markets to fuel its global ambitions—the company raised US$6 billion raised US$6 billion The Ken Global leaders, watch your backs; Sea’s coming with US$6 billion more Read more last September, while its e-commerce business, Shopee, planted its flag in Latin America, India, and Europe.


Ka Kay Lum

Based in Kuala Lumpur, Ka Kay covers investment activities, aka following the money, across Southeast Asia and in-depth stories on the often-overlooked Malaysian startup ecosystem. She was previously a regional writer for Nikkei-owned DealStreetAsia.

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