Trendyol has agreed to sell an 85% controlling stake in its delivery service, Trendyol Go, to Uber for $700 million, marking a significant expansion of Uber Eats into the Turkish market.

Target Information

Trendyol, recognized as Türkiye's largest e-commerce platform and the country's first decacorn, is predominantly owned by Alibaba Group. The company is making significant strides in revolutionizing the way consumers in Türkiye shop online. Within its suite of services, Trendyol Go, an online meal and grocery delivery service based in Istanbul, plays a pivotal role, effectively operating as a crucial division of the Trendyol Group.

Trendyol Go has gained significant traction in the local delivery market, boasting partnerships with over 90,000 restaurants and employing a workforce of approximately 19,000 couriers. This established position allows Trendyol Go to capitalize on the growing demand for food delivery services in the region, enhancing its appeal to potential investors.

Industry Overview in Türkiye

The e-commerce and delivery industry in Türkiye has witnessed substantial growth over recent years, driven by changing consumer behaviors and increased internet penetration. As of 2023, the online retail sector has u