Sea Ltd's e-commerce arm told employees on Thursday it was shutting local operations in Chile, Colombia and Mexico, and leaving Argentina entirely, according to three sources with direct knowledge of the matter and an internal email.
The logo of Shopee, the e-commerce arm of Southeast Asia's Sea Ltd, is pictured at their office in Singapore, March 5, 2021. REUTERS/Edgar Sue-commerce arm told employees on Thursday it was shutting local operations in Chile, Colombia and Mexico, and leaving Argentina entirely, according to three sources with direct knowledge of the matter and an internal email.
Sea saw its market value soar to more than $200 billion last October as its gaming and e-commerce units surged in popularity during the pandemic, but its shares have tumbled since then and are now worth just $27 billion.
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