Trendyol Becomes Turkey’s Most Valuable Company with New Investment from Alibaba
Trendyol, one of Turkey’s leading e-commerce companies, received a new investment worth 350 million dollars from Alibaba, with which it signed a partnership in 2018. With this new investment, Trendyol increased its valuation to 9.35 billion dollars and became the most valuable company in Turkey.
Alibaba is the largest shareholder of Trendyol, which sold 347 million products in 2020 alone. In addition to Alibaba, which owns 86.50% of the company’s shares, the company’s co-founder Demet Mutlu holds 6.96%, Evren Üçok 5.55%, Begüm Tekin 0.78% and Zeki Güçlü Kaya 0.21%.
According to Webrazzi, the company is planning a new round of investment in the near future and aims to increase its valuation to at least $15 billion.