Sell-offs show tech players’ pursuit of profitability not enough to win over investors
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IT HAS been 17 months since Sea became the first big regional tech player to lay out plans for profitability.
The US-listed company in September 2022 pledged to achieve positive cashflow in order to prevail in an era of rising interest rates, high inflation and a volatile market that battered tech stocks.
Since then, other tech companies including Grab and GoTo have set profitability targets – and hit them. Yet, their journeys have shown that it takes more than profits to convince investors of their money-making potential.
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