Shopee

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Shopee Pte. Ltd.
Shopee
Company typeSubsidiary of Sea Group
Industry
Founded5 February 2015; 9 years ago (2015-02-05)
Queenstown, Singapore
Headquarters5 Science Park Drive, Shopee Building, Singapore 118265
Area served
14 countries
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Taiwan
  • Argentina
  • Brazil
  • Chile
  • Colombia
  • Mexico
  • Poland
  • Spain
Key people
Forrest Li (Founder)
Chris Feng (CEO)[1]
Number of employees
20,000+
ParentSea Group (NYSE: SE)
SubsidiariesShopee Japan Co., Ltd[2]
PT. Bank Kesejahteraan Ekonomi
Websiteshopee.com

Shopee Pte. Ltd. (Shopee) is a Singaporean multinational technology company which focuses mainly on e-commerce. Headquartered under Sea Ltd, Shopee was first launched in Singapore in 2015, and later expanded its reach abroad.[3]

As of 2021, it is widely considered as the largest e-commerce platform in Southeast Asia with 343 million monthly visitors, and the company also serves consumers and sellers throughout in several countries across the Americas and Europe who wish to purchase and sell their goods online.[4][5][6]

History

In mid February 2015, Shopee launched in Singapore as a social-first, mobile-centric marketplace where users can browse, shop and sell.[7] Integrated with logistical and payment support, the asset-light platform claims to make online shopping easy and secure for both sellers and buyers.[8][9]

The app-based platform launched a website in order to compete with other e-commerce websites in the region such as Coupang, Lazada, Tokopedia and AliExpress. To differentiate itself, Shopee offers online shopping security through its own escrow service called "Shopee Guarantee",[10] where it withholds payment to sellers until buyers have received their orders.[11]

On 3 September 2019, Shopee officially opened its new six-storey regional headquarters at Singapore Science Park. The new building has 244,000 square feet (22,700 m2) of space, which can accommodate 3,000 employees and is six times larger than the previous headquarters at Ascent Building. The building was previously tenanted by WeWork in Singapore. The lease was subsequently relinquished to Shopee as a result of its rapid expansion. By doing so, it strengthens its push into the digital economy.[12][13]

Business model

Shopee first started as a consumer-to-consumer (C2C) marketplace but has since moved into a C2C and business-to-consumer (B2C) hybrid model.[14] It partners with over 70 courier service providers across its markets to provide logistical support for its users.[15] In Singapore, Shopee collaborated with logistics startup NinjaVan for item pickup and delivery.[16] Other delivery partners in the region include Pos Malaysia[17] and Pos Indonesia.[18] While operating in India, Shopee partnered with Delhivery and Ecom Express for local deliveries of purchased goods.[19]

Market share

Availability of Shopee by country
  Available
  Closed, website still operational
  Closed and shut down
  Non-consumer operation

As of 2019, the platform recorded 200 million downloads. Shopee also saw gross orders jumping 92.7% to 246.3 million in Q2 2019, compared to 127.8 million a year ago. Its gross merchandise value also surged 72.7% to US$3.8bil in 2Q19 from US$2.2bil a year ago.[20]

According to iPrice's e-commerce report in Q2 2019, Shopee was the top shopping app by monthly active users, total downloads and website visits, ahead of its competitors, Lazada and Tokopedia.[21] These GMV claims led to backlash from Alibaba-backed competitor, Lazada. Lazada's former CEO, Max Bittner asserted that GMV numbers can be easily inflated "by subsidy schemes and history shows that GMV falls away as unhealthy subsidies are removed."[22]

In Malaysia, Shopee became the 3rd most visited e-commerce portal in Q4 2017, replacing Lelong and "overtook Lazada to rank as the best app on both Google Play and iOS App stores."[23]

Among consumers in Indonesia, a survey conducted in December 2017 revealed that Shopee is the top shopping platform for Indonesian mothers (73%), ahead of Tokopedia (54%), Lazada (51%) and Instagram (50%).[24]

In 2019, Shopee entered the Latin America market when it launched a localized site in Brazil. It later built new operations in Mexico, Chile and Colombia in 2021. In September 2021, Shopee introduced its marketplace in Poland. Launches in Spain and France followed over the next two months.[25][4] Shopee exited France in March 2022.[26]

Shopee started operations in South Korea as of 2020 to help local merchants reach customers in markets where the former operates. However, Shopee does not have a consumer-facing platform in South Korea.[27]

In November 2021, Shopee entered the Indian market with a soft launch.[4] It clocked 100,000 orders a day and has over one million app installations on the Google Play Store in India.[19] But within five months on 28th March 2022 Shopee announced it was ceasing operations in India by 12:00 am 29th March 2022.[28]

New launches

In 2016, Shopee launched an initiative called "Shopee University", a series of workshops and tutorials to aid local entrepreneurs and businesses in setting up their online businesses in the Philippines.[29]

In 2017, Shopee launched Shopee Mall with 200 brands in Singapore and the Philippines.The dedicated portal features thousands of products sold by leading brands and retailers in the region. Shopee Mall was created to offer a more diverse online shopping experience, and to better cater to larger brands looking to pursue an omni-channel approach.[30][31][32]

In 2018, Shopee launched the China Marketplace portal that offers shoppers easy access to products from Chinese merchants, without any shipping and agent fees in Singapore and the Philippines. The portal competes with Lazada's Taobao Collection option.[33][34]

In 2021, Shopee launched a food delivery service in Malaysia and Thailand market.

Brand ambassadors

In 2018, Shopee appointed Blackpink as its first-ever regional brand ambassador, as part of its partnership with YG Group. Bambam of Got7 was also appointed as the brand ambassador in Thailand in October of the same year.[35]

In 2019, Shopee secured a partnership with global football icon Cristiano Ronaldo as its regional brand ambassador. The partnership was announced in line with Shopee's signature annual shopping event, 9.9 Super Shopping Day.[36]

In the Philippines, Shopee has spawned seven local brand ambassadors: actress Anne Curtis, singer Jose Mari Chan, television personality Sarah Geronimo, boxer and Senator Manny Pacquiao, television personality Kris Aquino, television host and comedian Willie Revillame, television host and vlogger Alex Gonzaga and television actress Kim Chiu. In 2020, television personality Aquino became the new endorser of Shopee for the 11.11 Christmas Sale, after Chan, who was endorser for the 11.11-12.12 Christmas Sale in 2018 and the 9.9 Super Shopping Day in 2020.[37] Chan later joined Aquino in the 12.12 Christmas Sale in 2020.[38] In February 2021, television host and comedian Revillame was named as Shopee's new endorser for 3.3-4.4 Mega Shopping Sale.[39] Revillame's show Wowowin is a partner of Shopee for their Monthly Double-digit Shopping Sale promotions in 2020 even before Revillame was named as Shopee's endorser in 2021. Although Revillame is the new Shopee endorser in 2021, he appears in online advertisements, while Kris Aquino remains the endorser for the 3.3-4.4 Sale in TV commercials and YouTube videos.

In August 2020, Phua Chu Kang, a classic role from a Singaporean sitcom that was played by Gurmit Singh was announced and signed as Shopee's first Singaporean brand ambassador.[40] It later appointed Mark Lee as Shopee's next ambassador in May 2021.[41]

In Indonesia, Shopee has recruited 2 local brand ambassadors: late singer Didi Kempot and singer Nella Kharisma in 2020. Some Indonesian celebrities also became local brand ambassadors, such as actress Prilly Latuconsina, actor Maxime Bouttier, singer Via Vallen, and singer Rizky Febian in 2018, legendary rock band Slank and singer Syahrini in 2019, and also former member and general manager of JKT48 Melody Nurramdhani Laksani for Shopee Barokah and comedian Tukul Arwana in 2020. In 2020 too, Korean boy group Stray Kids took over as brand ambassador of Shopee Indonesia for the 11.11 Big Sale and 12.12 Birthday Sale.[42][43] In beginning of 2021, two soap operas actor and actress Amanda Manopo and Arya Saloka from mega-hit soap opera Ikatan Cinta (Love Ties) was signed as Shopee's local brand ambassadors.[44] In 2021 too, actor and martial artist Joe Taslim was signed as Shopee's local brand ambassadors for the Shopee 9.9 Super Shopping Day.[45] In beginning of 2022, singer Nassar Sungkar joined for SPayLater local promotion.[46] Also, singer Lesti Kejora and her husband, actor Rizky Billar was signed as Shopee's local brand ambassadors for Shopee 4.4 Sambut Ramadan Sale at the same time.[47]

In June 2021, BtoB was selected as the official ambassador for Shopee's K-Collection, a Korean brand exhibition in which 50 domestic small and medium-sized enterprises participate through Shopee's Live Shopee Singapore, Shopee Malaysia, Shopee Philippines, and Shopee Vietnam. The group will introduce products directly through 'Shopee's Live' and hold an exclusive online fan meeting to actively attract local K-pop fans as customers.[48]

In March 2022, Kapuso Actress and Host Marian Rivera was selected as its ambassador for 3.3-3.15 Consumer Day Sale.

IPO

Shopee's parent company, Sea Group, filed for an initial public offering on the New York Stock Exchange (NYSE) in October 2017 for US$1 billion.[49] Tencent is the main beneficiary of the Sea listing with a 20% share while Blue Dolphins Venture — an organization set up by founder Forrest Li — holds 15%. Li himself has 20%, and Chief Technology Officer, Gang Ye holds 10%.[49][50]

Awards

In 2015, Shopee was awarded the Singapore Startup Of The Year in the second edition of Vulcan Awards, presented by Singaporean digital publisher, Vulcan Post.[51]

Controversies

In June 2019, #ShopeeScam trended on Twitter worldwide after Shopee Philippines allegedly scammed Filipino fans of South Korean girl group Blackpink.[citation needed] Shopee Philippines released a promotion that offered passes to a Meet and Greet event for the 568 Top Spenders in their online store.[52][53] However, several fans reported receiving notifications that they won tickets but Shopee retracting them later on.[citation needed] Others posted screenshots that showed Shopee changing their contest mechanics the day before the event. Shopee is now under investigation by the Department of Trade and Industry.[54][needs update]

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External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Shopee&oldid=1085502287"