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Announced

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Alibaba completed the investment in Trendyol.

Synopsis

Alibaba completed the investment in Trendyol, an e-commerce platform, from European Bank for Reconstruction and Development, Kleiner Perkins and Tiger Global Management. Financial terms were not disclosed. “We are very excited about this partnership. The two companies share a very similar culture, values and both have huge ambitions for the digital economy. We began our journey, eight years ago with a team of five people in my apartment and with our hard-working talented team, we have built the largest and fastest growing mobile commerce platform in Turkey. We are still at the beginning of our journey, and we will be working even harder to create more impact for our customers, merchants and our team. We have always looked up to Alibaba, and now their investment and support will help us in the next phase of our growth and evolution. In particular, we will work with Alibaba to help Turkish brands, merchants and manufacturers to reach hundreds of millions of shoppers globally, and we will continue to serve our customers and contribute to the development of the digital economy in Turkey and the broader region,” Demet Mutlu, Trendyol Founder and CEO.

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