Online gaming and e-commerce firm Sea Ltd reported a larger-than-expected fourth-quarter loss and the departure of its president, who was the public face of the company during its listing in the United States last year.
The Singapore-based firm, which counts China’s Tencent Holdings as its biggest shareholder, saw its losses magnified by marketing expenses for its new e-commerce division, which more than tripled to $135 million in the quarter as the firm rolled out shipping and other promotions to snag new users.
