30.87 0.00 (0.00%)
After hours: 4:51PM EDT
|Bid||30.90 x 1800|
|Ask||30.92 x 800|
|Day's range||30.86 - 31.39|
|52-week range||10.52 - 38.00|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||42.86|
(Bloomberg) -- Amazon.com Inc. is in talks to make an investment in Indonesian ride-hailing giant Gojek, people familiar with the negotiations said, a move that could bolster the U.S. company’s presence in Southeast Asia.Amazon is one of the firms that have been negotiating with Gojek to join its ongoing funding round, according to the people, who asked not to be identified as the discussions are private. Under one scenario that has been considered, Amazon may make a meaningful investment for a slice of Indonesia’s most valuable startup, said one of the people. The talks may still fall apart or the terms may change.A Gojek representative declined to comment. Amazon couldn’t immediately be reached for comment outside of normal business hours. The Wall Street Journal earlier reported on the discussions.The move could mark Amazon’s most significant investment in Indonesia, one of the last frontiers of e-commerce. The Seattle-based retail giant took its first step into the region in 2017 when it entered Singapore with Amazon Prime Now. But in Indonesia, by far the region’s biggest and most promising market with 260 million people, it has no presence.By contrast, Chinese tech titans have made inroads into the region recently. Alibaba Group Holding Ltd. spent billions of dollars to acquire online shopping company Lazada Group and invested in homegrown Indonesian e-commerce companies Tokopedia PT and Bukalapak. Tencent Holdings Ltd. has backed Sea Ltd., whose mobile shopping unit Shopee is battling fiercely with Lazada.Gojek debuted its app for hailing motorbike taxis in Jakarta in 2015. Since then, the company has evolved into a “super app” -- part ride-sharing service, part food-delivery business and part digital-wallet provider. It also offers a dozen other on-demand services such as booking a cleaner and medicine delivery.As part of the ongoing Series F funding round, Gojek -- valued at $10 billion, according to CB Insights -- has secured investments from Visa Inc., Thailand’s Siam Commercial Bank Plc, Mitsubishi Motors Corp., Mitsubishi Corp. and Mitsubishi UFJ Lease & Finance Co. this year. The terms of those deals were not disclosed.Visa Invests in Go-Jek for Digital Payments in Southeast AsiaThose investments added to more than $1 billion Gojek secured in a previous funding round earlier this year.\--With assistance from Manuel Baigorri.To contact the reporters on this story: Yoolim Lee in Singapore at firstname.lastname@example.org;Crystal Tse in Hong Kong at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, ;Fion Li at email@example.com, Molly Schuetz, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Sea, Target, 1-800-FLOWERS.COM, Burlington and Cooper Companies
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(Bloomberg) -- Sea Ltd., operator of Southeast Asia’s biggest gaming platform, has raised $1.35 billion after increasing the size of a follow-on stock offering.
It’s Sea Ltd.’s marquee hit, a virtual landscape housing more people than the American population and the prime reason Chinese-born founder Forrest Li is climbing the real world’s wealth rankings. The 41-year-old entrepreneur owns 13.8 percent of Singapore-based Sea, a stake now worth roughly $1 billion, according to the Bloomberg Billionaires Index. Shares in Southeast Asia’s biggest gaming service surged 35 percent on Wednesday -- the most since its 2017 initial public offering -- after reporting a doubling in sales and robust growth at e-commerce unit Shopee.
Though Sea Limited's (SEA) fourth-quarter 2018 results reflect benefits from robust growth in Digital Media segment and expanding e-commerce platform, rising expenses hurt.
To be fair, the Singapore-based and U.S.-listed company isn’t hiding its numbers based on generally accepted accounting principles, or GAAP. Dig down to page 7, though, and you’ll discover that the GAAP figure was more than 20 percent lower at $827 million. Interestingly, if the release had led with this figure the company could have correctly pointed out that GAAP sales doubled from a year earlier.