Garena
  • Garena
Sea Ltd
TypePublic
NYSE: SE
ISINUS81141R1005
IndustryVideo Games
Founded2009 (2009)
FounderForrest Li
HeadquartersSingapore[1]
Key people
Forrest Li (Founder)
Terry Zhao (President)
RevenueUS$550m financing-2009
OwnerSea Ltd Tencent18%
Websitewww.garena.sg

Garena is a Singaporean game developer and publisher of free online games.[1] It is the digital entertainment arm of parent company Sea Ltd,[2] which was formerly named Garena.[3]

The company distributes game titles on Garena+ in various countries across Southeast Asia and Taiwan, including the multiplayer online battle arena (MOBA) games League of Legends and Heroes of Newerth, the online football (soccer) game FIFA Online 3, the first-person shooter game Point Blank, the mobile MOBA game Arena of Valor and the mobile racing game Speed Drifters.

In 2017, it released Free Fire, which had over 150 million daily active users globally as of May 2021.[4]

History

Game developments

In November 2011, Garena announced its publishing rights for the team-based shooter game, Firefall, in Southeast Asia and Taiwan.[5]

In December 2011, Garena announced their collaboration[6] with online games developer, Changyou, to publish and operate the popular 3D martial arts game, Duke of Mount Deer, in Taiwan. The game was the first MMORPG game available through Garena+. The game combines a classic Chinese story with the latest 3D rendering technology and cinematic quality graphics. Duke of Mount Deer[7] was created by several top online-gaming experts from China and South Korea and has gained much popularity in China. The same month, the "Dominion" game mode for Garena's League of Legends players in Singapore and Malaysia.[8]

In 2012, it launched its first product, Garena+, an online game and social platform for people to discover, download and play online games.

In 2014, the World Startup Report valued Garena as a US$1 billion internet company[9] and ranked it as the largest internet company in Singapore.[10]

Recent updates

In March 2015, the Ontario Teachers' Pension Plan (OTPP), one of the largest pension funds in the world, invested in Garena, valuing the company at over US$2.5 billion.[11]

In May 2017, Garena was renamed to Sea Limited.[12][13] However, Garena was retained as a brand name of Sea Limited (aka Sea Group).[14]

In October 2017, Sea Limited filed for an initial public offering on the New York Stock Exchange (NYSE) and aimed to raise US$1 billion. Before the IPO, Tencent was the major shareholder of Sea Limited, for around 20% of outstanding shares and is currently at 18.7%.[15][16] It was followed by Blue Dolphins Venture, established by Forrest Li, for 15%. Li personally owned 20% shares, and Chief Technology Officer, Gang Ye, 10%.[17]

In January 2021, Garena acquired Vancouver-based Phoenix Labs, the developers of Dauntless.[18] The acquisition did not affect the operations of Phoenix Labs or Dauntless, but helped Garena expand its international presence.[19]

As of the second quarter of 2021, Garena recorded 725 million active users, 45% more than the year prior, while the number of paid users grew 85% year-on-year, reaching 92 million. The outlook for Garena is expected to decline in 2022, after reports in March 2022 suggested that Garena will post US$2.9 to US$3.1 billion in bookings for the year, down from US$4.6 billion in 2021. The muted forecast would be Garena's first decline in business ever. The ban imposed on its Free Fire title in India across both Google Play and Apple app stores has been cited as a contributory factor.[20][21][22]

Products

Garena+ is an online game and social platform that has an interface similar to instant messaging platforms. Garena+ allows gamers to develop buddy lists, chat with friends online and check on game progress and achievements. Gamers can create their own unique identity by customizing their avatar or changing their names. Gamers are also able to form groups or clans, and chat with multiple gamers simultaneously through public or private channels through Garena+. Garena+ users use a virtual currency, Shells.

Other products include BeeTalk[23] and TalkTalk.[24]

Events and tournaments

In May 2012, Garena launched the Garena Premier League (GPL), a six-month-long online professional gaming league with more than 100 matches to be played. The first season of GPL is a League of Legends competition which comprises six professional teams. The teams are Bangkok Titans (Thailand), Kuala Lumpur Hunters (Malaysia), Manila Eagles (Philippines), Saigon Jokers (Vietnam), Taipei Assassins (Taiwan) and Singapore Sentinels (Singapore), which represent top players from respective countries. GPL matches are captured and broadcast online along with commentaries, which are available for viewers to watch on the GPL official website.[25]

In January 2013, Garena announced the second season of the Garena Premier League, which would start on 4 January 2013. Garena Premier League 2013 includes two new teams from Taiwan and Vietnam, bringing the total number of teams to eight. The teams are: AHQ, Saigon Fantastic Five, Bangkok Titans, Kuala Lumpur Hunters, Manila Eagles, Saigon Jokers, Taipei Assassins and Singapore Sentinels.[26]

In November 2014, the Garena e-Sports Stadium, a dedicated venue for esports, opened in Neihu District, Taipei.[27] The studio was built partially to accommodate the beginning of the League of Legends Masters Series, the top-level Taiwan, Hong Kong, and Macau LoL league that was spin-off of the GPL.

In January 2015, Garena launched Iron Solari League, a women's League of Legends tournament in the Philippines.[28] It is a monthly event organized in the second half of each month. It aims to encourage participation by under-represented groups and is open to all those who self-identify as female.

Besides competitive tournaments, Garena also organizes events to cater to users to meet and connect offline. This includes the annual Garena Carnival held in Singapore and Malaysia.[29]

Controversies

On 3 February 2015, Garena eSports announced limitations on the number of gay and transgender people participating in a women-only League of Legends tournament, due to concerns that LGBT participants might have an "unfair advantage". This led to gamers questioning the decision, while League of Legends developer Riot Games responded that "LGBT players are welcome at official LoL tourneys". On 4 February 2015, Garena apologized and subsequently removed the restrictions.[30]

Published games

Garena provides a platform for game titles such as Defense of the Ancients and Age of Empires, and also publishes games, like multiplayer online battle arena games League of Legends, Heroes of Newerth, Free Fire, Call of Duty and Black Shot for players in the region.

Garena-published games:

TitleGenreDeveloperYear of launchCountriesRemarks
BlackShotMMOFPSVertigo Games2009Singapore, Malaysia, PhilippinesChanged as self-published (Vertigo Games via PapayaPlay[31])
MstarCasual/DanceNurien/Netmarble2009Taiwan, Malaysia and SingaporeClosed 26 August 2019
League of LegendsMOBARiot Games2010Indonesia, Malaysia and Singapore, Philippines, Taiwan/Hong Kong/Macau, Thailand, VietnamChanged as self-published (Riot Games Southeast Asia) ex. Taiwan/Hong Kong (via Taiwan Mobile) & Vietnam (via VNG Games); since January 2023[32][33]
Heroes of NewerthMOBAFrostburn Studios2010Singapore, Malaysia, Thailand, Philippines, Indonesia, CISClosed on 20 June 2022
Duke of Mount DeerMMORPGChangyou.com2011TaiwanClosed 24 March 2014
Point BlankMMOFPSZepetto2012Thailand, Singapore, Malaysia, Philippines, IndonesiaClosed 28 June 2017; later relaunch in Thailand, Indonesia, Singapore and Malaysia (self-published)
Path of ExileARPGGrinding Gear Games2013Malaysia, Singapore, Taiwan, CIS, ThailandClosed 2016 (CIS),[34] ? (Thailand, Singapore, Malaysia)
ElswordMMORPGKOG Studios2013PhilippinesClosed 2 December 2015
FirefallTeam Shooter/FPSRed 52014Taiwan, Singapore, Malaysia, Hong Kong and the PhilippinesClosed
Lost SagaCasual/FightingIO Entertainment2015Thailand, TaiwanClosed 3 December 2017
Thunder StrikeVertical Scrollersunmosh2015Thailand, Taiwan, VietnamClosed 6 October 2017
Alliance of Valiant ArmsTeam Shooter/FPSRed Duck Inc./NEOWIZ2015Singapore, MalaysiaClosed 3 July 2018
VindictusMMORPGdevCAT/Nexon2015ThailandClosed 31 August 2018
Arena of Valor (Mobile Game)MOBATencent TiMi Studio2016Indonesia, Vietnam, Thailand, Taiwan.
Free Fire (Mobile Game)Battle RoyaleGarena2017Global[35]
Blade & SoulMMORPGTeam Bloodlust/NCSoft2017Thailand, VietnamClosed 15 August 2023 (Vietnam)
FIFA Online 3Sports/SoccerElectronic Arts2018Thailand, Malaysia, Singapore, VietnamClosed and replaced by FIFA Online 4
Ring of ElysiumBattle RoyaleTencent Aurora Studio2018Taiwan, Hong Kong, Macau, Thailand, IndonesiaClosed 21 January 2022
TalesRunnerSportsRhaon/Smilegate2018IndonesiaClosed
Onmyoji (Mobile Game)Visual Novel/ActionNetEase Games2018ThailandClosed 3 April 2019
DD Tank (Mobile Game)ArtilleryMMOG.asia/Changyou.com2018Thailand
Rising Force OnlineMMORPGsCCR InternationalThailand
FIFA Online 4Sports/SoccerElectronic Arts2018Thailand, Malaysia, Singapore, Vietnam
Call of Duty: Mobile (Mobile Game)Battle Royale/MultiplayerActivision/Tencent TiMi Studio2019Singapore, Malaysia, Indonesia, Thailand, Taiwan, Philippines
Speed Drifters (Mobile Game)RacingTencent TiMi Studio2019Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Hong Kong, Macau
Contra: Return (Mobile Game)Run and Gun ShooterTencent TiMi Studio/Konami2019Taiwan, Thailand, Malaysia, Singapore, Indonesia
Fairy Tail: Forces Unite (Mobile Game)RPGTencent Morefun Studios2020Malaysia, Singapore, Philippines[36]
Free Fire MAX (Mobile Game)Battle RoyaleGarena2021Global
Moonlight Blade M (Mobile Game)MMORPGTencent Games2021Taiwan[37]
Blockman GO (Mobile Game)SandboxZhuhai Sandbox Network Co. Ltd.2017 (relaunched in 2022)Global[38]
Black Clover M (Mobile Game)RPGIlinix, inc2022Global[39]
Cái Thế Tranh Hùng (Mobile Game Strategy, Role Playing Topjoy 2023 Vietnam

See also

References

  1. 1 2 "Garena Online Pvt Ltd". Bloomberg. 29 April 2022. Archived from the original on 29 April 2022. Retrieved 29 April 2022.
  2. ↑ "Sea Limited Reports Fourth Quarter and Full Year 2019 Results". sec.gov. U.S. Securities and Exchange Commission. 3 March 2020. Archived from the original on 3 July 2020. Retrieved 1 July 2020.
  3. ↑ "TechCrunch". Tech company Garena raises US$550m, rebrands as Sea. Archived from the original on 16 May 2017. Retrieved 19 February 2020.
  4. ↑ Obedkov, Evgeny (17 August 2021). "Mobile battle royale Free Fire surpasses 150 million peak daily active players". Game World Observer. Archived from the original on 14 October 2022. Retrieved 21 October 2022.
  5. ↑ "Yahoo! News". Garena snags exclusive Firefall distribution rights for US$23 million. 28 November 2011. Archived from the original on 3 December 2011. Retrieved 10 December 2011.
  6. ↑ "Gamer.com.tw". Duke of Mount Deer. Archived from the original on 8 January 2012. Retrieved 6 January 2012.
  7. ↑ "PC Home". Duke of Mount Deer. Archived from the original on 2 September 2023. Retrieved 6 January 2012.
  8. ↑ "GameAxis". Dominion Officially Launched on Garena. Archived from the original on 4 January 2012.
  9. ↑ "Singapore's Tech Company Garena Valued At USD1 Billion". Archived from the original on 8 August 2014.
  10. ↑ "Start me up". The Economist. Archived from the original on 30 June 2017. Retrieved 13 July 2017.
  11. ↑ Grant, Jeremy (March 2015). "Ontario Teachers Pension Plan bets on Asia with Garena stake". Financial Times. Archived from the original on 27 June 2018. Retrieved 27 November 2018.
  12. ↑ Chia Yan Min (9 May 2017). "Tech firm Garena gets renamed as Sea". The Straits Times. Singapore Press Holdings. Archived from the original on 23 July 2019. Retrieved 23 July 2019.
  13. ↑ Lee, Yoolim (8 May 2017). "Garena Rebrands as Sea After Raising $550 Million in New Funding". Bloomberg. Archived from the original on 14 May 2017. Retrieved 4 November 2019.
  14. ↑ "Garena rebrands to Sea and raises $550 million more to focus on Indonesian e-commerce". 8 May 2017. Archived from the original on 22 October 2020. Retrieved 7 August 2020. Garena was founded in 2009 as an online gaming platform and its games business will retain that name.
  15. ↑ "The World's Hottest Stock Is a Money-Losing Tech Giant Soaring 880%". Bloomberg. 5 August 2020. Archived from the original on 22 December 2021. Retrieved 22 December 2021.
  16. ↑ "Tencent divests 2.6% of equity interest in Sea Limited". Tencent. 4 January 2022. Archived from the original on 12 February 2022. Retrieved 16 February 2022.
  17. ↑ Russell, Jon (23 September 2017). "Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO". TechCrunch.com. Archived from the original on 18 April 2018. Retrieved 4 November 2019.
  18. ↑ "Sea Announces Garena's Acquisition of Phoenix Labs". www.businesswire.com. 29 January 2020. Archived from the original on 25 February 2020. Retrieved 25 February 2021.
  19. ↑ McAloon, Alissa (28 January 2021). "Dauntless dev Phoenix Labs acquired by Singaporean game company Garena". Gamasutra. Archived from the original on 29 January 2020. Retrieved 28 January 2021.
  20. ↑ Poh, Olivia; Yoolim, Lee (2 March 2022). "Sea's Market Decline Hits $132 Billion as Stock Tumbles Again". Bloomberg. Archived from the original on 7 April 2022. Retrieved 27 March 2022.
  21. ↑ Iwamoto, Kentaro (2 March 2022). "Singapore's Sea expects 'headwind' after COVID-driven boom". Nikkei Asia. Archived from the original on 11 March 2022. Retrieved 27 March 2022.
  22. ↑ "Singapore's Sea expects 'headwinds' after COVID-driven boom". KrASIA. 2 March 2022. Archived from the original on 25 March 2022. Retrieved 27 March 2022.
  23. ↑ "With 10M users in just four months, Tinder-esque app BeeTalk is buzzing throughout Asia". Archived from the original on 21 September 2020. Retrieved 7 August 2020.
  24. ↑ "TalkTalk". intl.garena.com. Archived from the original on 12 February 2015. Retrieved 12 February 2015.
  25. ↑ "Watch the Opening of Garena Premier League 2012 Season". League Craft. Archived from the original on 14 May 2012. Retrieved 2 January 2013.
  26. ↑ "Garena Premier League". Garena. Archived from the original on 22 December 2012.
  27. ↑ "【活動】台灣史上第一座『Garena 電子競技館』隆重登場！". Garena. 29 October 2014. Archived from the original on 17 November 2015. Retrieved 13 November 2015.
  28. ↑ Mitchell, Ferguson (3 February 2015). "All-female League of Legends tournament in the Philippines to limit LGBT participation". The Daily Dot. Archived from the original on 17 November 2015. Retrieved 13 November 2015.
  29. ↑ Putra, Ade (12 May 2015). "Garena Carnival 2015 Will Be at Suntec on 13–14 June [Updated]". GameAxis. Archived from the original on 17 November 2015. Retrieved 13 November 2015.
  30. ↑ Stuart, Keith (4 February 2015). "Pro-gaming tournament attempts to limit gay and transgender players". The Guardian. ISSN 0261-3077. Archived from the original on 16 April 2016. Retrieved 10 April 2016.
  31. ↑ "BlackShot Online - Southeast Asia". Papaya Play. Archived from the original on 12 November 2020. Retrieved 12 November 2020.
  32. ↑ Allsop, Ken (9 November 2022). "League of Legends 'set free' by Riot Games publishing in SEA". PCGamesN. Archived from the original on 12 November 2022. Retrieved 12 November 2022.
  33. ↑ Bernardo, Anna (9 November 2022). "Riot Games to take back League of Legends, Teamfight Tactics publishing in SEA from Garena in 2023". Yahoo! News. Archived from the original on 13 November 2022. Retrieved 13 November 2022.
  34. ↑ Chris (2 August 2016). "Concerns related to the Russian merge". pathofexile.com. Archived from the original on 8 November 2020. Retrieved 11 December 2020.
  35. ↑ "FORM 20-F". U.S. Securities and Exchange Commission. 31 December 2017. Archived from the original on 16 February 2022. Retrieved 16 February 2022.
  36. ↑ Lai, Adrian (31 December 2020). "'Fairy Tail: Forces Unite!' Now Available in Malaysia, Singapore and the Philippines". IGN Southeast Asia. Archived from the original on 23 October 2022. Retrieved 23 October 2022.
  37. ↑ "Sea Limited Reports Second Quarter 2021 Results". www.businesswire.com. 17 August 2021. Archived from the original on 23 October 2022. Retrieved 23 October 2022.
  38. ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Archived from the original on 23 October 2022. Retrieved 23 October 2022.
  39. ↑ Stevens, Nathan (16 November 2022). "Garena to Publish Upcoming Black Clover RPG in Select Global Markets". Archived from the original on 2 September 2023. Retrieved 17 November 2022.
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