20 August 2021 Friday
Turkey's Decacorn Success in Trade
E-commerce giant Trendyol took $1.5 billion in a new funding round, raising its value to $16.5 billion. After this valuation, Trendyol successed to become Turkey's first decacorn with its value exceeding 10 billion dollars. Founded in 2010, serving more than 30 million customers and delivering more than 1 million packages per day, the company also has applications that facilitate payment and transportation systems such as Trendyol Express, Trendyol Go, Trendyol Pay.
Trendyol's founder, Demet Suzan Mutlu, plans to continue her investments in infrastructure, technology, logistics and accelerating the digitalization of Turkish SMEs with new capital and to increase the employment rate. Mutlu thanked all its employees and customers, explaining that this success of the company will strengthen Turkey's international position in the sector. General Atlantic EMEA General Manager and Consumer President Melis Kahya Akar also said after this success that Trendyol's market model brings convenience to consumers in Turkey and internationally.
Trendyol Chairman of the Board Evren Üçok emphasized that Turkey has a high growth potential with its young population, world-class human resources and its strategic location in the EMEA (Europe, Middle East and Africa) Region. Üçok stated that they will be powered by their strong teams in Turkey, their expertise in technology and e-commerce, the quality production capacity of the country and its business partners, their marketing skills and their experience in the field of logistics, on their way to become the leader of EMEA in e-commerce.
According to the report prepared by JPMorgan, as of 2020, the rate of online shopping of the Turkish population reached 67%. This can make e-commerce companies the pioneer of the future.
