Sell-offs show tech players’ pursuit of profitability not enough to win over investors

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.