Garena Explained

Garena
Trade Name: Sea Ltd
Type:Public
Industry:Video Games
Founder:Forrest Li
Location:Singapore[1]
Key People:Forrest Li (Founder)
Terry Zhao (President)
Revenue:US$550m financing-2009
Owner:Sea Ltd Tencent 18%

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 2014, the World Startup Report valued Garena as a 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:

Title Genre Developer Year of launch class=unsortable Countries !class=unsortable Remarks
BlackShot MMOFPS Vertigo Games 2009 Singapore, Malaysia, Philippines Changed as self-published (Vertigo Games via PapayaPlay[31])
Mstar Casual/Dance 2009 Taiwan, Malaysia and Singapore Closed 26 August 2019
League of Legends MOBA 2010 Indonesia, Malaysia and Singapore, Philippines, Taiwan/Hong Kong/Macau, Thailand, Vietnam Changed 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 Newerth MOBA Frostburn Studios 2010 Singapore, Malaysia, Thailand, Philippines, Indonesia, CIS Closed on 20 June 2022
Duke of Mount Deer MMORPG 2011 Taiwan Closed 24 March 2014
Point Blank MMOFPS Zepetto 2012 Thailand, Singapore, Malaysia, Philippines, Indonesia Closed 28 June 2017; later relaunch in Thailand, Indonesia, Singapore and Malaysia (self-published)
Path of Exile ARPG 2013 Malaysia, Singapore, Taiwan, CIS, Thailand Closed 2016 (CIS),[34] ? (Thailand, Singapore, Malaysia)
Elsword MMORPG 2013 Philippines Closed 2 December 2015
Firefall Team Shooter/FPS 2014 Taiwan, Singapore, Malaysia, Hong Kong and the Philippines Closed
Lost Saga Casual/Fighting IO Entertainment 2015 Thailand, Taiwan Closed 3 December 2017
Thunder Strike sunmosh 2015 Thailand, Taiwan, Vietnam Closed 6 October 2017
Alliance of Valiant Arms Team Shooter/FPS Red Duck Inc./NEOWIZ 2015 Singapore, Malaysia Closed 3 July 2018
Vindictus MMORPG 2015 Thailand Closed 31 August 2018
Arena of Valor (Mobile Game) MOBA 2016 Indonesia, Vietnam, Thailand, Taiwan.
Free Fire (Mobile Game) Battle Royale Garena 2017 Global [35]
Blade & Soul MMORPG 2017 Thailand, Vietnam Closed 15 August 2023 (Vietnam)
FIFA Online 3 Sports/Soccer 2018 Thailand, Malaysia, Singapore, Vietnam Closed and replaced by FIFA Online 4
Ring of Elysium Battle Royale 2018 Taiwan, Hong Kong, Macau, Thailand, Indonesia Closed 21 January 2022
TalesRunner Sports 2018 Indonesia Closed
Onmyoji (Mobile Game) Visual Novel/Action 2018 Thailand Closed 3 April 2019
DD Tank (Mobile Game) Artillery 2018 Thailand
Rising Force Online MMORPGs CCR International Thailand
FIFA Online 4 Sports/Soccer 2018 Thailand, Malaysia, Singapore, Vietnam
(Mobile Game) Battle Royale/Multiplayer 2019 Singapore, Malaysia, Indonesia, Thailand, Taiwan, Philippines
Speed Drifters (Mobile Game) Racing 2019 Singapore, Malaysia, Philippines, Indonesia, Thailand, Taiwan, Hong Kong, Macau
Contra: Return (Mobile Game) Run and Gun Shooter 2019 Taiwan, Thailand, Malaysia, Singapore, Indonesia
Fairy Tail: Forces Unite (Mobile Game) RPG 2020 Malaysia, Singapore, Philippines [36]
Free Fire MAX (Mobile Game) Battle Royale Garena 2021 Global
Moonlight Blade M (Mobile Game) MMORPG 2021 Taiwan [37]
Blockman GO (Mobile Game) Sandbox Zhuhai Sandbox Network Co. Ltd. 2017 (relaunched in 2022) Global [38]
Black Clover M (Mobile Game) RPG Ilinix, inc 2022 Global [39]
Cái Thế Tranh Hùng (Mobile Game)Strategy, Role PlayingTopjoy2023Vietnam
Need for Speed Mobile (Mobile Game) Racing 2024 Taiwan, Hong Kong, Macau

See also

Notes and References

  1. Web site: Garena Online Pvt Ltd. Bloomberg. April 29, 2022. 29 April 2022. 29 April 2022. https://web.archive.org/web/20220429153540/https://www.bloomberg.com/profile/company/1062184D:SP?sref=G4ZwBfC0. live.
  2. Web site: Sea Limited Reports Fourth Quarter and Full Year 2019 Results . . 3 March 2020 . sec.gov . 1 July 2020 . 3 July 2020 . https://web.archive.org/web/20200703152643/https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=13976785&RcvdDate=3%2F3%2F2020&CoName=SEA%20LTD&FormType=6-K&View=html . live .
  3. Web site: TechCrunch . Tech company Garena raises US$550m, rebrands as Sea . live . 2020-02-19 . https://web.archive.org/web/20170516095408/https://www.straitstimes.com/business/companies-markets/garena-raises-us550-million-rebrands-as-sea . 2017-05-16 .
  4. Web site: Obedkov . Evgeny . 2021-08-17 . Mobile battle royale Free Fire surpasses 150 million peak daily active players . 2022-10-21 . Game World Observer . en-US . 14 October 2022 . https://web.archive.org/web/20221014062027/https://gameworldobserver.com/2021/08/17/garena-free-fire-surpasses-150-million-peak-daily-active-players . live .
  5. Web site: Yahoo! News . live . https://web.archive.org/web/20111203071025/http://sg.news.yahoo.com/garena-snags-exclusive--firefall--distribution-rights-for-us-23-million.html# . 2011-12-03 . 2011-12-10 . Garena snags exclusive Firefall distribution rights for US$23 million. 28 November 2011 .
  6. Web site: Gamer.com.tw . live . https://web.archive.org/web/20120108012725/http://gnn.gamer.com.tw/9/60979.html# . 2012-01-08 . 2012-01-06 . Duke of Mount Deer.
  7. Web site: PC Home . Duke of Mount Deer . 6 January 2012 . dead . 2 September 2023 . https://web.archive.org/web/20230902234237/https://news.pchome.com.tw/cat/science .
  8. Web site: GameAxis . dead . https://web.archive.org/web/20120104174401/http://gameaxis.com/league-of-legends-dominion-officially-launched-on-garena/ . 2012-01-04 . Dominion Officially Launched on Garena.
  9. Web site: Singapore's Tech Company Garena Valued At USD1 Billion . https://web.archive.org/web/20140808014216/http://www.businessinsider.sg/singapores-tech-company-garena-valued-usd1-billion/ . 8 August 2014.
  10. News: Start me up . . live . https://web.archive.org/web/20170630085756/http://www.economist.com/blogs/graphicdetail/2014/07/daily-chart-6# . 2017-06-30 . 2017-07-13.
  11. News: Ontario Teachers Pension Plan bets on Asia with Garena stake . live . https://web.archive.org/web/20180627003457/https://www.ft.com/content/3f6ba438-bfff-11e4-9708-00144feab7de# . 2018-06-27 . 2018-11-27 . Financial Times. March 2015 . Grant . Jeremy .
  12. News: Chia Yan Min . 9 May 2017 . Tech firm Garena gets renamed as Sea . The Straits Times . Singapore Press Holdings . 23 July 2019 . 23 July 2019 . https://web.archive.org/web/20190723081249/https://www.straitstimes.com/business/companies-markets/tech-firm-garena-gets-renamed-as-sea . live .
  13. News: Lee . Yoolim . 8 May 2017 . Garena Rebrands as Sea After Raising $550 Million in New Funding . Bloomberg . limited . 4 November 2019 . 14 May 2017 . https://web.archive.org/web/20170514202410/https://www.bloomberg.com/news/articles/2017-05-08/garena-rebrands-as-sea-after-raising-550-million-in-new-funding . live .
  14. Web site: Garena rebrands to Sea and raises $550 million more to focus on Indonesian e-commerce . 8 May 2017 . 7 August 2020 . Garena was founded in 2009 as an online gaming platform and its games business will retain that name. . 22 October 2020 . https://web.archive.org/web/20201022161526/https://techcrunch.com/2017/05/07/sea-change/ . live .
  15. Web site: The World's Hottest Stock Is a Money-Losing Tech Giant Soaring 880%. Bloomberg. August 5, 2020. 22 December 2021. 22 December 2021. https://web.archive.org/web/20211222195805/https://www.bloomberg.com/news/articles/2020-08-05/the-880-stock-rally-that-s-trouncing-tesla-and-everything-else?sref=G4ZwBfC0. live.
  16. Web site: Tencent divests 2.6% of equity interest in Sea Limited. Tencent. January 4, 2022. 16 February 2022. 12 February 2022. https://web.archive.org/web/20220212172333/https://www.tencent.com/en-us/articles/2201261.html. live.
  17. News: Russell . Jon . 23 September 2017 . Southeast Asia games firm Sea, formerly Garena, files for $1 billion US IPO . TechCrunch.com . 4 November 2019 . 18 April 2018 . https://web.archive.org/web/20180418225957/https://techcrunch.com/2017/09/23/sea-files-for-a-1-billion-u-s-ipo/ . live .
  18. Web site: 2020-01-29 . Sea Announces Garena's Acquisition of Phoenix Labs . 2021-02-25 . www.businesswire.com . en . 25 February 2020 . https://web.archive.org/web/20200225082530/https://www.businesswire.com/news/home/20200128005866/en/Sea-Announces-Garena%25E2%2580%2599s-Acquisition-Phoenix-Labs . live .
  19. Web site: McAloon . Alissa . January 28, 2021 . Dauntless dev Phoenix Labs acquired by Singaporean game company Garena . January 28, 2021 . . 29 January 2020 . https://web.archive.org/web/20200129000919/https://www.gamasutra.com/view/news/357296/Dauntless_dev_Phoenix_Labs_acquired_by_Singaporean_game_company_Garena.php . live .
  20. Web site: Poh . Olivia . Yoolim . Lee . 2 March 2022 . Sea's Market Decline Hits $132 Billion as Stock Tumbles Again . limited . 2022-03-27 . Bloomberg . 7 April 2022 . https://web.archive.org/web/20220407022458/https://www.bloomberg.com/news/articles/2022-03-02/sea-s-market-decline-hits-132-billion-as-stock-tumbles-again . live .
  21. Web site: Iwamoto . Kentaro . 2 March 2022 . Singapore's Sea expects 'headwind' after COVID-driven boom . subscription . 2022-03-27 . Nikkei Asia . en-GB . 11 March 2022 . https://web.archive.org/web/20220311015938/https://asia.nikkei.com/Business/Startups/Singapore-s-Sea-expects-headwind-after-COVID-driven-boom . live .
  22. Web site: 2022-03-02 . Singapore's Sea expects 'headwinds' after COVID-driven boom . 2022-03-27 . KrASIA . en . 25 March 2022 . https://web.archive.org/web/20220325151617/https://kr-asia.com/singapores-sea-expects-headwind-after-covid-driven-boom . live .
  23. Web site: With 10M users in just four months, Tinder-esque app BeeTalk is buzzing throughout Asia . 7 August 2020 . 21 September 2020 . https://web.archive.org/web/20200921041952/https://www.techinasia.com/beetalk-messaging-chat-app-10-million-downloads-in-asia-taiwan-thailand . live .
  24. Web site: 2015-02-12 . 2015-02-12 . https://web.archive.org/web/20150212105343/http://intl.garena.com/talktalk/# . TalkTalk . live . intl.garena.com.
  25. Web site: Watch the Opening of Garena Premier League 2012 Season. League Craft. 2013-01-02. https://web.archive.org/web/20120514182148/http://leaguecraft.com/news/watch-the-opening-of-garena-premier-league-2012-season-198.xhtml. 2012-05-14. dead.
  26. Web site: Garena Premier League . Garena . dead . https://web.archive.org/web/20121222233448/http://gpl.garena.com/team-list.php . 2012-12-22 .
  27. Web site: 【活動】台灣史上第一座『Garena 電子競技館』隆重登場！. Garena. 2014-10-29. 2015-11-13. https://web.archive.org/web/20151117015250/http://lol.esport.garena.tw/news/news_info.php?nid=2396. 2015-11-17. dead.
  28. Web site: All-female League of Legends tournament in the Philippines to limit LGBT participation. Ferguson. Mitchell. The Daily Dot. February 3, 2015. November 13, 2015. https://web.archive.org/web/20151117022550/http://www.dailydot.com/esports/league-female-lgbt-limits/. November 17, 2015. dead.
  29. Web site: Garena Carnival 2015 Will Be at Suntec on 13–14 June [Updated]]. Ade. Putra. GameAxis. May 12, 2015. November 13, 2015. https://web.archive.org/web/20151117030354/http://gameaxis.com/2015/05/garena-carnival-2015-will-be-at-suntec-on-13-14-june/#. 2015-11-17. live.
  30. News: Pro-gaming tournament attempts to limit gay and transgender players. Stuart. Keith. 2015-02-04. The Guardian. en-GB. 0261-3077. 2016-04-10. https://web.archive.org/web/20160416031835/https://www.theguardian.com/technology/2015/feb/04/pro-gaming-tournament-attempts-to-limit-gay-and-transgender-players#. 2016-04-16. live.
  31. Web site: BlackShot Online - Southeast Asia. Papaya Play. . 12 November 2020. 12 November 2020. https://web.archive.org/web/20201112193101/https://bs.sea.papayaplay.com/bssea.do. live.
  32. Web site: Allsop. Ken. League of Legends 'set free' by Riot Games publishing in SEA. PCGamesN. November 9, 2022. November 12, 2022. 12 November 2022. https://web.archive.org/web/20221112102010/https://www.pcgamesn.com/league-of-legends/sea-riot-games. live.
  33. Web site: Bernardo. Anna. Riot Games to take back League of Legends, Teamfight Tactics publishing in SEA from Garena in 2023. Yahoo! News. November 9, 2022. November 13, 2022. 13 November 2022. https://web.archive.org/web/20221113115658/https://news.yahoo.com/riot-games-to-self-publish-league-of-legends-teamfight-tactics-sea-2023-garena-020042196.html. live.
  34. Web site: Concerns related to the Russian merge. August 2, 2016. December 11, 2020. pathofexile.com. Chris. 8 November 2020. https://web.archive.org/web/20201108120625/https://www.pathofexile.com/forum/view-thread/1708021. live.
  35. Web site: FORM 20-F. U.S. Securities and Exchange Commission. December 31, 2017. 16 February 2022. 16 February 2022. https://web.archive.org/web/20220216175339/https://www.sec.gov/Archives/edgar/data/1703399/000119312518113294/d414468d20f.htm. live.
  36. Web site: Adrian . Lai . 2020-12-31 . 'Fairy Tail: Forces Unite!' Now Available in Malaysia, Singapore and the Philippines . 2022-10-23 . IGN Southeast Asia . en-sg . 23 October 2022 . https://web.archive.org/web/20221023015252/https://sea.ign.com/forcesunite/167425/news/fairy-tail-forces-unite-now-available-in-malaysia-singapore-and-the-philippines . live .
  37. Web site: 2021-08-17 . Sea Limited Reports Second Quarter 2021 Results . 2022-10-23 . www.businesswire.com . en . 23 October 2022 . https://web.archive.org/web/20221023015305/https://www.businesswire.com/news/home/20210817005461/en/Sea-Limited-Reports-Second-Quarter-2021-Results . live .
  38. Web site: Tech in Asia - Connecting Asia's startup ecosystem . 2022-10-23 . www.techinasia.com . en-US . 23 October 2022 . https://web.archive.org/web/20221023015256/https://www.techinasia.com/blockman-garenas-big-hit-free-fire . live .
  39. Web site: Stevens . Nathan . Garena to Publish Upcoming Black Clover RPG in Select Global Markets . 16 November 2022 . live . 17 November 2022 . 2 September 2023 . https://web.archive.org/web/20230902234238/https://gamingcypher.com/garena-to-publish-upcoming-black-clover-rpg-in-select-global-markets/ .

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