Sea Limited Has Turned Southeast Asian Culture Into An Unbeatable Business Strategy
An orange app you’ve probably never opened is quietly running away with Southeast Asia’s e-commerce crown. Shopee’s parent company, Sea LimitedSE, has staged one of tech’s most remarkable comebacks, with its stock surging over 385% since Jan. 2024. The secret weapon? An unconventional logistics army made up of neighborhood retirees, stay-at-home parents, and college students hauling parcels in oversized Ikea bags — a low-cost, hyper-local network that’s giving Sea an edge rivals can’t match.
- That strategy has paid off — Sea now commands 56% of the region’s e-commerce market, far ahead of TikTok Shop’s 19% and Lazada’s 15%.
- The logistics expansion powered Sea’s Q2 2025 results to a record $5.3B in revenue, up 38.2% year-over-year, while net income jumped to $414.2M.
Delivering the goods: Sea’s SPX Express has gone from almost non-existent in 2022 to claiming 25% of Southeast Asia’s e-commerce logistics market by 2024. Its hyperlocal model — where your retired neighbor might be the one dropping off your package — has pushed Singapore’s next-day delivery rates to 90% and built a network of over 3.5K collection points across the island. With momentum still building and 33 of 41 Bloomberg-tracked analysts rating the stock a Buy, Sea appears well-positioned to maintain its Southeast Asian dominance while pushing deeper into global markets.