Major investment from Uber to Turkey: $700 million for Trendyol GO

Uber Technologies has reached an agreement to acquire an 85 percent stake in the delivery platform Trendyol GO. The transaction, which will be conducted for $700 million in cash, is expected to contribute to Uber's growth following the integration.

Following the completion of the deal, the Trendyol GO application will continue to operate, and it is expected that Uber will later introduce prominent features from its global delivery platform, Uber Eats, to users.

Regarding the matter, Trendyol Group President Çağlayan Çetin stated:

“As a player in the global e-commerce arena, we work to provide our customers with a seamless e-commerce experience, to support our local merchants and producers in growing their businesses, and to contribute to our country's economic development. We sincerely believe that Trendyol GO will continue its journey stronger with its new structure.”

Çetin continued his remarks as follows:

“This agreement is an indicator of the strength of the Turkish technology and e-commerce sectors and the Turkish economy. As Trendyol Group, we will continue to invest in our country as we have done until now, and we will continue to evaluate different growth opportunities that may arise in the future.”

Uber CEO Dara Khosrowshahi used the following expressions in his statement:

"With the coming together of Uber and Trendyol GO, we aim to take the delivery sector in Turkey further for consumers, couriers, and restaurants and markets, especially small-scale and family businesses. This agreement is a sign of our long-term commitment to Turkey. We are extremely impressed by the success the Trendyol GO team has achieved to date, and we are very excited to continue this growth momentum across Turkey.”