It is considered to be the largest e-commerce company in Turkey
Alibaba raised stake in Turkish e-commerce platform. Source: shutterstock.com
Alibaba is raising its stake in Trendyol to 86.5%, according to Ecommerce News. Turkey’s e-commerce platform received an additional €273 million investment from Alibaba, which was already one of its existing partners.
This way, the capital increase means that the value of Trendyol is now estimated at over €9 billion. But according to Turkish tech blog Webrazzi, rumors are that more investment money is heading to Trendyol.
Trendyol was founded by Demet Mutlu in 2010. In October 2020, the company announced plans to expand in Europe, including the United Kingdom, Italy, and Spain.
We’ve reported that Dutch customers spent over €2.5 billion online in 2020.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
