Reference
·Supporting source
Shopee Thailand reported revenue (2022-2024)
~USD 1.4-1.6B (2024)
Sea Limited's Thailand segment revenue (Shopee, SeaMoney, and Garena combined) reached an estimated USD 2.5-2.8 billion in 2024 per Sea Group consolidated filings, with Shopee Thailand e-commerce revenue alone tracking USD 1.4-1.6 billion. The marketplace turned EBITDA-positive in 2023 after years of subsidised growth and has held discipline through 2024 despite the cross-border competitive squeeze. Lazada (Alibaba-owned) is estimated to generate roughly 60-70% of Shopee Thailand's revenue, with TikTok Shop closing fast from below.
Figure in context
Sea Limited's Thailand segment revenue (Shopee, SeaMoney, and Garena combined) reached an estimated USD 2.5-2.8 billion in 2024 per Sea Group consolidated filings, with Shopee Thailand e-commerce revenue alone tracking USD 1.4-1.6 billion. The marketplace turned EBITDA-positive in 2023 after years of subsidised growth and has held discipline through 2024 despite the cross-border competitive squeeze. Lazada (Alibaba-owned) is estimated to generate roughly 60-70% of Shopee Thailand's revenue, with TikTok Shop closing fast from below.
Interpretation notes
What this tells you
Sea Limited's Thailand segment revenue (Shopee, SeaMoney, and Garena combined) reached an estimated USD 2.5-2.8 billion in 2024 per Sea Group consolidated filings, with Shopee Thailand e-commerce revenue alone tracking USD 1.4-1.6 billion. The marketplace turned EBITDA-positive in 2023 after years of subsidised growth and has held discipline through 2024 despite the cross-border competitive squeeze. Lazada (Alibaba-owned) is estimated to generate roughly 60-70% of Shopee Thailand's revenue, with TikTok Shop closing fast from below.
What not to do with it
Values in USD billions, Shopee Thailand e-commerce revenue only (excludes SeaMoney and Garena). Estimated split based on Sea consolidated 20-F segment notes.
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