Garena, Southeast Asia’s largest internet and mobile platform company announced that they have closed additional investments from SeaTown Holdings International, GDP Venture, and Mistletoe. The financial details of the deal was not disclosed.
In an interview by Bloomberg, Garena’s Founder and Group CEO, Forrest Li said that they have plans for an U.S. IPO and possibly a secondary listing in Southeast Asia.
Founded in 2009, Garena was first known for its gaming business and has achieved compound annual revenue growth of more than 95% over the past five years to over USD 300 million of gross revenue in 2015. Today, Garena is the market leader in interactive digital content and eSports in Southeast Asia.
Garena now valued at more than $3.75 billion, and has raised more than US$500 million, with the most recent Series D round in March 2016.
The company now operates Shopee, a mobile-centric online marketplace which is one of Asia’s fastest growing ecommerce businesses; and AirPay, a uniquely Southeast Asian financial services platform which is likewise one of Asia’s fastest growing payments businesses.
Once the deal is closed, Taizo Son and Archana Parekh will joined Garena’s Advisory Board. Taizo Son is the President and CEO of Mistletoe, while Archana Parekh is a Portfolio Manager at SeaTown and also serves on the Board of the United Nations Development Fund for Women in Singapore.
Last modified: September 7, 2016