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Sea Limited was founded under the name Garena in Singapore in 2009 by Forrest Li, a graduate of Shanghai Jiaotong University and Stanford Graduate School of Business. Garena was originally intended to be a game development and publishing company, but later expanded to become a tech conglomerate which also offered financial services and e-commerce. Following a rebranding to Sea in 2017, the digital entertainment branch retained its name as Garena. That same year, Free Fire launched as a battle royale multiplayer game and swiftly found international success. It was the most downloaded mobile game globally in 2019 and grew to become a significant stream of revenue for Garena. In 2021, Garena released a graphically enhanced version, Free Fire Max, which has yet to surpass the

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