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In 2015, the Southeast Asian ecommerce landscape was dominated by giants like Lazada that had long held a strong foothold in the market. So when Shopee entered the fray that year, few took notice.
Despite its initially unimposing presence, the online shopping platform quickly clawed its way through the ranks. Bolstered by Garena’s war chest, Sea’s timely listing, and Tencent’s backing, Shopee was able to outspend its competition at every turn, drawing customers to its platform like flies to honey.
And its strategy paid off. Within five short years, Shopee dethroned Lazada and became Southeast Asia’s top ecommerce platform.
In this episode of The Playbook , we discuss Shopee’s bid for the crown as Southeast Asia’s ecommerce king, the strategic factors that enabled the company to get the jump on its competition, and why the incumbents of the time failed to halt its rise to the top.
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