Singapore's Sea mulls raising funds for e-commerce unit as quarterly loss triples

Singapore's Sea mulls raising funds for e-commerce unit as quarterly loss triples

Photo: Sea Group website

Sea Ltd., operator of Southeast Asia’s biggest gaming platform, said it may raise funds to strengthen its balance sheet after its quarterly loss tripled on rising investments at mobile-shopping unit Shopee.

The Singapore-based gaming and e-commerce company said its net loss during the three months ended in March was $215.6 million, compared with $73.1 million a year earlier. Total revenue rose 65 percent to $155 million.

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