Business

Shopee opens new HQ in Kent Ridge

The six-storey office of the regional e-commerce giants can house up to 3,000 employees

Home-grown shopping platform Shopee opened its new six-storey regional headquarters in Kent Ridge yesterday, in a move that bodes well for Singapore's push into the digital economy sector.

Since its launch in 2015, Shopee, which is owned by consumer Internet firm Sea, has grown into one of South-east Asia's leading e-commerce platforms, with operations in seven places including Singapore, Thailand, Malaysia and Vietnam.

In the second quarter of this year, the platform achieved 246.3 million orders regionally and recorded a gross merchandise volume of US$3.8 billion (S$5.3 billion).

Deputy Prime Minister Heng Swee Keat, who officiated at the opening, said Shopee's growth is aligned with Singapore's plans for growing the economy and positioning itself as a hub to harness the potential of the growing digital economy.

"The rise of South-east Asian and Asian economies brings opportunities, and we must position Singapore well to harness them. We have to constantly strive to ensure that companies like Shopee, doing business across the region, will continue to see Singapore as an ideal base for serving the region," he said.

"We strive to serve as a global-Asia node - in linking the world to Asia and Asia to the world."

Mr Heng also spoke about efforts to build up Singapore's value to the business economy. He cited ongoing plans for a pathfinder Digital Economy Partnership Agreement with Chile and New Zealand, collaboration with Australia on digital economy initiatives, and investments in research and development in the services and digital economy domain.

"Our efforts to grow our digital economy, transform our industries, and build new capabilities are wide-ranging, but our overarching intent is clear. Ultimately, these must translate into good jobs for our people," he said.

In four years, Shopee has grown from just 10 employees to more than 1,500 and the new office can accommodate up to 3,000 employees.

A report last month by product comparison website iPrice showed Shopee extending its lead over rival Lazada as the most visited Internet shopping platform in the region.

Shopee had a monthly average of 200.2 million visits through both desktop and mobile gadgets in the second quarter, while Alibaba-owned Lazada was ranked second, with 174.4 million visits.

Shopee's new 244,000 sq ft office is almost six times larger than its previous one in Science Park Drive.

BUSINESS & FINANCE