Trendyol is the largest and fastest growing mobile commerce company in Turkey and in the Middle East/North Africa region and now their growth has been cemented with an investment from Alibaba.
The deal marks the largest internet transaction in Turkey to date, according to both companies. The deal’s value and other financial details were not disclosed.
As part of their partnership, the companies will cooperate to help Trendyol, which has over 16 million customers, accelerate its growth. The marketplace will also leverage Alibaba’s capabilities in technology, e-commerce, mobile payments and logistics in the growing e-commerce market fueled by a young, tech-savvy population.
“With only 3.5% of the country’s retail sales currently online, there are significant opportunities for Trendyol to help foster the transformation of the region’s retail infrastructure. The region’s three million small to mid-sized businesses and strengths in manufacturing and logistics can provide a boost to Alibaba’s future growth in the area.”
With some 2,000 merchants and over 16 million customers, Trendyol will work with Alibaba to help Turkish brands, merchants and manufacturers to reach hundreds of millions of shoppers globally.
“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. 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, founder and CEO, Trendyol