Missed Out on Amazon? This Stock Could Be Your Second Chance to Profit From Owning a Growing E-Commerce Conglomerate

Amazon is one of the market's most notable stocks. The company pioneered e-commerce and cloud computing, and its successes led to a 278,000% return for investors over its 29-year trading history.

Fortunately, other companies have followed its lead in e-commerce in other regions of the world, and they have become conglomerates by succeeding in other industries.

Sea Limited (NYSE: SE) has become this kind of company in Southeast Asia. Given its smaller size and its focus on a fast-growing, developing region, this company could offer investors a second chance at Amazon-like growth. Here's how.

Image source: The Motley Fool.

The market positioning of Sea Limited

Unlike Amazon, Sea began its history as a gaming company called Garena. However, founder and CEO Forrest Li saw an opportunity for e-commerce in Southeast Asia and formed Shopee, now Southeast Asia's largest e-commerce company. While it didn't exactly follow Amazon's growth strategy, Shopee invested in logistics and sold ads on its site, much like its North American counterpart.

Moreover, Shopee had an issue that Amazon did not: shoppers who deal primarily in cash. Thus, instead of going into cloud computing, Sea formed fintech company Monee to serve these customers and offer digital financial services.

At a $2.9 trillion market cap, Amazon is nearly 40 times the size of Sea Limited, with a market cap of around $75 billion. That difference gives investors an idea of Sea's possible growth.

Additionally, Sea Limited's seven Southeast Asian markets have a population of around 645 million, far above the U.S.'s 349 million. Although it operates primarily in developing countries with lower incomes than the U.S., Shopee markets such as Indonesia, Vietnam, and the Philippines have reported 5% to 7% yearly economic growth, well above the U.S. at around 2%.

Data source: United Nations Population Division Estimates.

Not surprisingly, Sea Limited's stock rocketed higher amid such conditions after releasing its earnings report for the second quarter of 2026. Revenue grew by 48% annually in Q2 to $7.8 billion. Garena, the only segment to operate worldwide, increased revenue by 34% over that period. Also, Shopee's revenue rose 49%, while Monee reported a 59% yearly increase.

In Q2, net income increased by 11% to $458 million as the company deferred some profits to reinvest in its business. Despite that slower income growth, Sea's P/E ratio is 50, a level comparable to or sometimes lower than Amazon in its growth phase. That, along with Sea's rapid revenue growth, should help make what appears to be a high valuation more palatable to investors.

Sea Limited as a second-chance stock

Sea Limited is not exactly Amazon, but its role as a leading e-commerce conglomerate in Southeast Asia could generate considerable returns.

Indeed, most of Southeast Asia is less wealthy than Amazon's largest market, and the region rarely attracts the attention of U.S. investors.

Nonetheless, Sea has become the leading e-commerce company in the region by following some of Amazon's strategies. Moreover, Sea's gaming and fintech segments also contribute to its rapid growth.

That means there could be enough similarities to make buying this consumer discretionary stock like buying Amazon when that company was one-fortieth of its current size. Over time, that could mean outsize returns for those willing to buy and hold Sea Limited stock.

Will Healy has positions in Sea Limited. The Motley Fool has positions in and recommends Amazon and Sea Limited. The Motley Fool has a disclosure policy.