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Nothing much has changed for shopee games. My win rate from coins is at least 20 coins ($0.20) per day.
However, from 1st April one of my main coin generator, Shopee pets cooking game will be paused indefinitely. This will bring down my earn rate from 20-25 coins to 15-20 coins now. The earn rate is dwindling and so has my coin accumulation. Since mid Feb, I am now beginning to be a net negative accumulator of shopee coins.
As a recap I have been using Shopeecoins to eat at hawkers, pay for grocery at Sheng Shiong. On the vouchers front, shopee has been starting to stinge on its vouchers with 15% cashback vouchers which are maxed at 500 coins maximum. In a sense, shopee vouchers are now at low effective discount rate of 8-10%.
As a consumer of the shopee platform, it is indeed sad. But I think Sea Group shareholders should start to rejoice. In my view, the shopee platform losses are going to narrow from its US$300 million per quarter losses. Shopee's own logisitcs has been improving with more expensive shipping fee. My guess is that Sea Group on a whole might be able to maintain a profit but should be less than US$200 million on an annual basis.
The shopee platform is starting to prove how an economies of scale + a scaling back of discounts could turn it into a non loss making platform, while Sea Finance and Garena have proven to be profitable. Im quite confident as time progresses, Sea Group can become a billion dollar net profit generating company a year. But at a 30 times future valuation P/E with execution risk, I think its a tad too expensive. Worth a revisit when its down to its teens
However, from 1st April one of my main coin generator, Shopee pets cooking game will be paused indefinitely. This will bring down my earn rate from 20-25 coins to 15-20 coins now. The earn rate is dwindling and so has my coin accumulation. Since mid Feb, I am now beginning to be a net negative accumulator of shopee coins.
As a recap I have been using Shopeecoins to eat at hawkers, pay for grocery at Sheng Shiong. On the vouchers front, shopee has been starting to stinge on its vouchers with 15% cashback vouchers which are maxed at 500 coins maximum. In a sense, shopee vouchers are now at low effective discount rate of 8-10%.
As a consumer of the shopee platform, it is indeed sad. But I think Sea Group shareholders should start to rejoice. In my view, the shopee platform losses are going to narrow from its US$300 million per quarter losses. Shopee's own logisitcs has been improving with more expensive shipping fee. My guess is that Sea Group on a whole might be able to maintain a profit but should be less than US$200 million on an annual basis.
The shopee platform is starting to prove how an economies of scale + a scaling back of discounts could turn it into a non loss making platform, while Sea Finance and Garena have proven to be profitable. Im quite confident as time progresses, Sea Group can become a billion dollar net profit generating company a year. But at a 30 times future valuation P/E with execution risk, I think its a tad too expensive. Worth a revisit when its down to its teens