Garena rebrands as Sea, eyes taking on Alibaba

It has secured $550m in funds.

According to a report from Bloomberg, Garena has rebranded as Sea Ltd. after Southeast Asia’s most valuable startup secured $550m in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia.

The eight-year-old startup backed by Tencent Holdings Ltd. landed a clutch of new investors in its latest funding round, including some of the region’s wealthiest families. They include GDP Venture, led by Martin Hartono, the son of Indonesia’s richest man, and JG Summit Holdings Inc., founded by Philippine billionaire John Gokongwei.

Read the rest of the story here.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley