Look Out MercadoLibre and Amazon: Sea Limited Is Entering New Markets
After defying the odds to become the top e-commerce company in Southeast Asia in 2020, Sea Limited (NYSE: SE) is making 2021 the year it branches out beyond its home markets in a big way. Though the COVID-19 pandemic was a boon for e-commerce companies worldwide, it likely slowed Sea's ability to hire new teams in new countries.
Yet as the calendar turned to 2021, Sea is now aggressively rolling out its Shopee-branded e-commerce platform to more and more countries as the year rolls on, with an eye on developing markets where e-commerce is relatively underpenetrated and its mobile video game Free Fire is a hit.
Though Sea had initially set foot in Brazil in 2019, 2021 has brought its international reach to another level. Shopee entered Mexico in February, followed by Chile and Colombia in June. Just last week, Shopee announced it was hiring and looking for sellers in the massive Indian market. Sea's stock has been rising this year, as each new market represents another revenue and profit opportunity.
Source Fool.com
