THE local transaction of Sea Ltd.’s platform called Shopee may have hit 2,500 a day, a back-end support firm said.
The person familiar with the matter, but cannot speak for Sea, which is a customer, told the BusinessMirror the transactions handled for Shopee increased from only 500.
“Unfortunately, we are not able to comment on the number of daily transactions,” Shopee’s Philippines staff told the BusinessMirror. The company has integrated into the platform a payment and logistics system. The latter taps logistics providers that deliver the product ordered online.
The person familiar with the logistics sector estimates electric and mobile (e- and m-) commerce to grow at a double-digit pace in the next five years.
According to Sea Ltd.’s local staff, the platform has approximately 2 million active listings from over 150,000 sellers in the Philippines. They also said the company “will continue to focus on ensuring the continued growth and success of the business” after Sea, Shopee’s parent firm, listed on the New York Stock Exchange (NYSE) last month.
On October 26 Sea Ltd. announced the pricing of its initial public offering (IPO) and trading of its American depositary shares on the NYSE. The move makes Sea Ltd. the first Internet business of scale from greater Southeast Asia to become listed on the NYSE.
“With additional capital gained from the IPO, we can invest more into further developing our ecosystem and to help our sellers grow their businesses,” Shopee Philippines Inc. said in reply to the BusinessMirror. “We also believe this will also help Shopee to attract and retain great talents, so we can provide our buyers and sellers with the best possible service.”