战略决定，通过在我们的货币化努力之前产生销售和营销费用来投资于我们Shopee市场的增长。我们相信，通过首先建立我们的用户群和提高参与度，采取周到的方法来实现货币化，将使我们能够在未来最大限度地实现货币化

We had a dedicated team of over 880 customer service personnel in GSEA as of June 30, 2017.

Opening a physical shop in some GSEA markets, especially in less developed cities and rural 一个提供一站式电子商务解决方案的在线和低成本高效率的市场。在一些 GSEA 市场开设实体店，尤其是在欠发达城市和农村   156 Table of Contents 目录   areas, often entails significant upfront costs yet yields low customer flows due to infrastructure limitations. It is also difficult for individual and smaller-business sellers to create an online presence on their own. Moreover, the social media platforms some online sellers use lack even basic commercial functions to facilitate completion of an online transaction. We provide sellers a centralized, standardized and popular e-commerce platform accessible on smartphones and PCs with no initial setup charge. We empower individual and small-business sellers to reach potentially anyone in their markets with an internet connection. The Shopee platform offers sellers an integrated platform for conducting e-commerce business, combining a large and growing buyer base with an easy-to-use interface, powerful seller tools and convenient access to payments and logistics networks.

We arrange the placements of products from third-party sellers on our platform through targeted seller engagement and product placement. We leverage our deep understanding of local market conditions and user preferences to prioritize product categories that we believe to have higher realization rates and profitability for our sellers. Meanwhile, we also focus on expanding categories to include an increasingly diverse range of products. We have historically emphasized categories such as fashion, health and beauty, baby products and toys, and home and living, which we believe generally have higher gross margins for our seller partners. We believe that categories with higher seller gross margins will ultimately lead to better monetization potential for our marketplace

n 2016, Shopee pioneered “Mobile Shopping Day” as an annual promotional shopping event. Shopee processed 1.4 million orders generating US$18.2 million of GMV on September 9, 2017, supported by our Mobile Shopping Day event in Taiwan, Vietnam, Thailand, the Philippines, Singapore and Malaysia. In 2016, we ran our Mobile Shopping Day event in Indonesia on October 10 and anticipate doing so again on October 10, 2017.