Forrest Li, Chairman and Group CEO of Sea Ltd, stated that the business's leadership "would not accept any cash compensation until the company achieves self-sufficiency."
Bloomberg stated that the revelation was made in an internal memo emailed to Sea employees on September 15.
The Singapore-based technology firm operates three "main businesses": the e-commerce platform Shopee, the gaming developer and publisher Garena, and the financial services company SeaMoney.
In his message, Li stated that the firm was facing "negative conditions" that would "likely endure in the medium term."
Rising interest rates, inflation, and market volatility were listed by the co-founder as issues influencing the business.
“With investors fleeing for ‘safe haven’ investments, we do not anticipate being able to raise funds in the market," said Li.
The company must have a positive cash flow.
In the following 12 to 18 months, the company's primary target, according to Li, will be to generate positive cash flow.
"The only way for us to become independent of foreign finance is to become self-sufficient and generate adequate funds for all of our requirements and projects," added Li.
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