Shopee

Shopee risks going back to its old ways as new competitors besiege the Southeast Asian e-commerce market.

The company’s stock falls more than 28% in New York as company warns of an impact on its bottom line.

Facing a multitude of challenges, Southeast Asia’s largest online marketplace is refreshing its approach to reverse its stagnant revenue growth.

Against a backdrop of macroeconomic uncertainty, the e-commerce giant is taking drastic measures to cut losses.

Shopee and Traveloka have ventured into food delivery and on-demand transportation, while AirAsia plans to launch an array of services in Indonesia soon.

In 2021, the e-commerce firm expanded its operations to Latin America, Europe, India, and South Korea.

Southeast Asian companies hit important milestones, while the region still faces unequal internet access and data protection challenges.

Shopee is trying to become the next super app in the country after Gojek and Grab.