by Ray Hayes
Southeast Asia technology start up Sea has filed for a potential US initial public offering (IPO) that could surpass $1 billion. This would be the biggest deal from a technology company from Southeast Asia.
The company, formerly known as Garena, was founded in 2009 by Forrest Li. Sea originally began as an online gaming portal but slowly evolved and added mobile shopping and payment services. According to Bloomberg, “A $1 billion deal would be the largest technology IPO out of Southeast Asia, according to data…, and be a boon for backers such as Tencent Holdings Ltd.” Li is currently working with Goldman Sachs Group Inc. and Morgan Stanley on the share sale.
Only time will tell if this will work out in the long term, but for now, Sea will no doubt make history for the region.