I live in Asia and I want to share a couple of observations regarding SE.

The first is that even before the pandemic forced us all into our homes for months, Shopee was part of our daily lives if we need ANYTHING for our home or daily lives.

Secondly, somewhat unlike the West, the internet and wifi and mobile device use is pervasive here; I mean you CANT get away from it if you tried. I was on the Lao border up in the rural mountains some years back and had high speed mobile internet EVERYWHERE.

Third, many countries in SE Asia (I live in Vietnam) have simply skipped the copper land line build-out and opted for the next, latest, fastest generation of wireless internet and it is made available to all and VERY inexpensively.

Fourth, the middle class in this part of the world (unlike in the West) is expanding like mad; people in cities are moving rapidly up the socio-economic ladder, incomes are increasing and people are buying both big ticket items - homes and cars - and everything to fill those up.

Fifth, gaming is insanely popular and has been for a long time.

Six - since the mobile phone is now the go to device for EVERYTHING, there is no obstacle to using it to pay for things too.

All of these things play right into the sweet spot for SE in all of the markets they are both in already and just entering and while they are paying up for market share (advertising and investments), they are also owning the space. This wont change. The Shopee brand is practically a verb here in the same way you ask for a Kleenex or a Band Aid; the brand becomes the object itself. What do you pay for that recognition? We will find out in the coming decade.

I'm still hold 2000shares @300

GLAT and I'm willing to hear you opinions😉

$Sea Ltd(SE)$