And more importantly, we also see new opportunities for growth, in particularly relating to live streaming as well as e-commerce related to — with video content. We think these are interesting new opportunities that we are in a great position to capture given: A, that we are an e-commerce platform. And from that angle, in terms of commerce side, we have advantage in actually converting buyers in serving their orders more efficiently and effectively with better quality and experience with our integrated logistics and payment services as well as our overall e-commerce capabilities. And B, don’t forget that we are a social commerce platform in our DNA, so we’re one of the first platforms — e-commerce platforms in our region to tap into social sellers.
So this has always been part of our core competencies and strengths. And C, given our larger — significantly larger scale, the all new platform, other platforms and also the profitable position we have already achieved, we’re in a better-than-ever position to actually capture a larger slice of growth in the pipe that we already see in the market. As Forrest previously shared just now, we actually already started to see some progress and benefits from our focus on this content-based e-commerce activity in our region, and we have attracted a significant number of top influencers and sellers to stream on our platform. As a result, our Shopee platform in Indonesia has already, we believe, become the largest live streaming platform in the country.
So this has been a focus area that we are ramping up investments in as well. Also, we also started to ramp up investments in free shipping again to capture more of the growth opportunities we are seeing in the market. So overall, I think given our stronger operational and financial position, given the relatively strong market conditions, and also given the new opportunities that we see in the market that we have a significant advantage in capturing, we do believe that now is a good time to start to invest in growth. And in terms of where the investments will be made, I think it probably covered by my answer just now. And how would it affect the top line and bottom line? I think it remains to be seen the effect on the top line. Of course, we would expect and we hope to see more growth from the investments.
And at the same time, in terms of value into SE, as we explained, while we do see more dollars taking up investment on our platform, the impact on the VAS from the free shipping program may have an accounting impact on the total revenue. So we remain — the net effect remains to be seen. In terms of the bottom line, also as shared by Forrest earlier, it will have an impact on our bottom line for Shopee and the group as a whole. But we think given our capability and ability also that we have proven to shift focus and to manage growth as well as profitability from period to period and time to time, we believe that we will be able to manage in a very responsible, efficient and prudent manner. And we’ll closely monitor each market and its conditions and growth potential and potential areas for investment from period to period.
It’s going to be a very much a bottom-up and closely monitored pace of investment. Now turning to games. So yes, as you pointed out, we are very happy to see positive trends on QAU, QPU, and — as well as start to see signs — positive signs for our Free Fire specifically on the booking number. But as we also shared earlier, we think this is a strong sign. On the other hand, we continue to monitor and observe the trends ongoing to see whether this is the beginning of a long-term stabilization. In fact, if where we see games to show more seasonality, usually, that is also a positive sign that’s more stabilization of the given seasonality. And from an EBITDA margin perspective, as we explained, the Free Fire bookings increased vis-a-vis the other games in the portfolio, we do see a boost to our EBITDA margin.
