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Sea Limited: Business Overview, Financials & Competitive Analysis

Sea Limited scores 8/10 on the AskCyborg Cyborg Score (Strong). Dominant Southeast Asian digital ecosystem achieving rare profitability at scale across gaming, e-commerce, and fintech with significant emerging market growth potential. Sea Limited is improving profitability while scaling operations with positive adjusted EBITDA across all three business segments. Shopee's GMV reached $32.2 billion in Q3 (up 28% YoY), SeaMoney expanded.

What is Sea Limited's industry? Sea Limited (sea.com) operates in Consumer Internet / Digital Commerce & Financial Services. AskCyborg classifies Sea Limited under Consumer Internet / Digital Commerce & Financial Services in its company registry.

Sea Limited is a consumer internet company operating in Southeast Asia, Latin America, and internationally through three core businesses: Garena (digital entertainment and gaming), Shopee (mobile-centric e-commerce ma...

8/ 10Strong

Cyborg Score thesis

Dominant Southeast Asian digital ecosystem achieving rare profitability at scale across gaming, e-commerce, and fintech with...

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Industry Consumer Internet / Digital Commerce & Financial Services
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 14, 2026
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What's in This Report
Sea Limited OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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Sea Limited Overview

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Sea Limited is a consumer internet company operating in Southeast Asia, Latin America, and internationally through three core businesses: Garena (digital entertainment and gaming), Shopee (mobile-centric e-commerce marketplace), and SeaMoney (digital financial services including payments, lending, and insurance). The company posted its strongest quarter since 2021 with total revenue hitting $6 billion and adjusted EBITDA surging 68% year-over-year to $874 million, demonstrating a successful pivot to sustainable profitability.

Strategic Profile

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Sea operates Southeast Asia's largest e-commerce company Shopee in terms of gross merchandise value, operating as a hybrid C2C and B2C marketplace in Indonesia, Taiwan, Vietnam, Thailand, Malaysia, the Philippines, and Brazil. The company now operates three profitable businesses simultaneously while maintaining aggressive growth, with CEO Forrest Li executing a strategy centered on deepening market penetration in Southeast Asia and Brazil. The diversified business model across gaming, e-commerce, and fintech provides multiple growth vectors and revenue streams.

Competitive Landscape

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Tencent Holdings and Krafton are competitors of Sea. In e-commerce, Sea faces competition from regional players like Lazada and Tokopedia across Southeast Asia. In gaming, Garena competes with publishers like Tencent and other mobile gaming companies. In fintech, SeaMoney competes with traditional banks and emerging fintech platforms across Southeast Asia and Brazil.

Industry Context

Sea Limited operates in Consumer Internet / Digital Commerce & Financial Services.

Key facts

Founded: 2009 · Headquarters: Singapore, Singapore · Revenue: $21B · Market cap: $64.1B

What the analysts stress-tested

The top findings that survived the multi-agent debate for Sea Limited.

  • Achieved simultaneous profitability across all three business segments in Q3 2025 with 28% GMV growth and 68% YoY EBITDA expansion
  • Shopee GMV reached $32.2 billion in Q3 with 28% YoY growth driven by higher purchase frequency (up 12% YoY) and active buyers (up 15% YoY)
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Recent developments

Material events tracked by the AskCyborg corpus.

  • December 2025Announced $1 billion share repurchase program following strong Q3 2025 earnings
  • December 2025Q3 2025 earnings showed $6 billion revenue with 68% YoY adjusted EBITDA growth to $874 million
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

LazadaRegional e-commerce platform in Southeast Asia→TencentGaming, fintech, and digital entertainment across Asia→TokopediaE-commerce marketplace in Indonesia→

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Industry context

Sea Limited operates in Consumer Internet / Digital Commerce & Financial Services. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Sea Limited do?+
Sea Limited is a consumer internet company operating in Southeast Asia, Latin America, and internationally through three core businesses: Garena (digital entertainment and gaming), Shopee (mobile-centric e-commerce ma...
What is Sea Limited's Cyborg Score?+
Sea Limited has a Cyborg Score of 8/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Sea Limited's main competitors?+
Named competitors include Lazada, Tencent, Tokopedia. The full competitive landscape is in the AskCyborg report.
How can I get the full Sea Limited research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Sea Limited research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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