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Free Fire Banned in India: Due to the banning of the battle royale game Free Fire in India, its parent company Sea Ltd has suffered a major setback. The company has suffered a loss of thousands of crores.
Free Fire Removed from Apple App Store and Play Store
Free Fire was also banned along with Chinese apps
Popular battleground royale game Free Fire has been banned in India. As soon as it was banned, the parent company Sea Ltd has suffered a major setback. The daily market drop value of Sea Ltd has come down by $16 billion (about Rs 1 lakh 20 thousand crore). Investors feel that the company's troubles are going to increase due to the ban.
Singapore-based Sea went public in 2017 and quickly became a very valuable company in South East Asia. Apart from gaming, this company also contributes to e-commerce and financial services.
The company was shocked after the news of Free Fire being banned in India. India has banned Chinese apps in the past, but now it is increasing its policy to ban apps that pose a threat to the country.
Bloomberg has reported about this. Sea Ltd's founder Forrest Li is Chinese but now he has become a citizen of Singapore. Its shareholder is very high in Chinese social media giant Tencent Holdings Ltd.
After the Free Fire ban, investors are also afraid that India may also ban Sea's e-commerce portal Shopee. There were 300 employees and 20,000 local sellers working in Shopee in December.
Forrest Li informed about the status of the company in the Annual General Meeting. However, he did not say anything about the Free Fire ban in India. According to Bloomberg, Sea told that it is a Singapore company and it wants to be part of India's digital economy.
It was also said on behalf of the company that they are protecting the privacy and security of the users of India and they are running according to Indian law. They do not store the data of any Indian users in China.
Let us tell you that the Free Fire game became the most downloaded game in India in December 2021. One of the reasons for its popularity is that it is easy to run on even a midrange smartphone.
