Trendyol's IPO statement: 'At least 50 percent of our revenue must be international'

Trendyol Group President Çağlayan Çetin made statements regarding expectations for an initial public offering (IPO).

Speaking to Bloomberg TV, Çetin emphasized that they would not rush the IPO process, stating that their priority is to expand internationally. Expressing that they expect 20 percent of their revenue to come from international sources this year, Çetin said, "At the IPO stage, at least 50 percent of our revenue needs to be from international sources."

Çetin added, "We have strong balance sheets and investors who provide significant international support. We will not rush for an IPO. Ultimately, like all technology companies, this will be part of our plans."

10 MILLION TARGET

Stating that they reached 1 million active customers in the Gulf region this year, Çetin noted that they are targeting 6 million active customers by the end of the year and added, "We want to reach 10 million active customers as soon as possible."

Noting that their growth in dollar terms last year was approximately 50 percent, Çetin stated that they started this year with double-digit growth.

Çetin emphasized that internationalizing their business is among their priorities.

News Source: 12punto