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Daily Digest | Taming the waves

Written by The Uptake Published on   1 min read

What does the hypertrophic growth of Sea Group tell us about Southeast Asia’s tech sector?

There is little doubt about the influence that Steve Jobs still has on entrepreneurs around the world. In China, Xiaomi’s founder, Lei Jun, has been repeatedly compared to the American business magnate, with observers noticing similarities in their wardrobes and product design philosophies.

One of Jobs’ most famous lines, “stay hungry, stay foolish,” inspired another founder of a major tech company. Forrest Li heard Jobs speak at Stanford University in 2005, and set himself on a path to build one of the most, if not the most, significant Southeast Asian tech company.

Most of you know the background: Sea Group was founded in 2009. The company now has its hands in video games, e-commerce, and fintech. It became a regional powerhouse, with some services stretching beyond Southeast Asia.

But it hasn’t always been smooth sailing for Sea Group. In fact, one of its popular game titles, Garena Free Fire, which has similar mechanics to PUBG Mobile, was banned in India last month. And the company’s earnings for Q4 2021 were far from satisfactory. But Sea Group may be adjusting to new conditions as it moves forward.

As part of our KrASIA Connection series, we dived into Forrest Li’s achievements and Sea Group’s history. You can check out the article here.

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