U.S.-based transportation service Uber has reached an agreement to acquire an 85% stake in Türkiye’s renowned food delivery platform, Trendyol GO, a subsidiary of Trendyol Group, for $700 million.

According to a statement from Trendyol Group, the transaction remains subject to regulatory approvals and customary closing conditions, with completion anticipated in the second half of 2025. Following the closure, the Trendyol GO app will continue to serve its customers, vendors, and couriers. Over time, Uber also plans to integrate core features from its global delivery platform, Uber Eats, into the local operation.

Bloomberg first reported on April 18 that Uber had initiated talks to acquire Trendyol GO. At the time, negotiations had not yet resulted in a finalized agreement.

Emphasis on Türkiye’s competitive advantages in e-commerce

Commenting on the acquisition, Trendyol Group President Caglayan Cetin stated that the deal aligns with the company’s commitment to delivering a seamless e-commerce experience and supporting local economic development in Türkiye. He also emphasized that the strength of Türkiye’s technology and e-commerce sectors is a promising signal for the country’s broader economy.

Uber CEO Dara Khosrowshahi described the deal as strategic, noting that it has the potential to enhance the delivery ecosystem in Türkiye for both consumers and businesses—particularly small and family-owned enterprises. He also praised the achievements of the Trendyol GO team and expressed enthusiasm about sustaining their momentum across the country.

More than 200 million deliveries and $2 billion in revenue

Trendyol GO, which has already established a strong presence across Türkiye, reported notable growth in 2024, completing over 200 million delivery orders and generating gross booking revenues that reached $2 billion. This figure represents a more than 50% increase compared to the previous year, underscoring the company’s rising consumer base and operational momentum.

The acquisition is expected to contribute meaningfully to Uber’s global growth strategy, particularly following the integration of Trendyol GO into its broader logistics and delivery infrastructure.

Operating across Türkiye, Trendyol GO currently provides food and grocery delivery services from over 90,000 restaurants and stores. Its parent company, Trendyol Group, is Türkiye’s leading e-commerce platform and is owned by the Chinese online retailer Alibaba.

May 06, 2025 04:27 PM GMT+03:00