Industry and Technology Minister Mustafa Varank visited the transfer center of Trendyol, Turkey’s first “decacorn”, which has reached a valuation of over $10 billion with a new investment of $1.5 billion.
10 UNICORN TARGETS
Minister Varank stated that although Trendyol is an 11-year-old company, it has recently received a new investment of $1.5 billion over a valuation of $16.5 billion. “10% of the company’s shares were purchased with the interest of investors from both the Far East and the USA, Europe and the Middle East” Stating that they are approaching the target of having 10 unicorns in the 2023 Industry and Technology Strategy, Varank said, “We also need to underline that. Trendyol will use all of the investment it has received here within the company. In other words, all that $1.5 billion comes to Turkey. This will be used for the further growth and development of the company and to reveal its new capabilities.” Trendyol Group President Caglayan Cetin stated that being Turkey’s first decacorn is a source of pride for them and Turkey, and that other decacorns will come out of our country. Cetin stated that they will open a similar transfer center in Tuzla in Trabzon in the first quarter of 2022.
MORE THAN 30 MILLION CUSTOMERS
Established in 2010, Trendyol has become one of Turkey’s leading e-commerce platforms in 11 years. The company, which has more than 30 million customers, distributes more than 1 million packages per day. There are a total of 184 thousand sellers on the Trendyol platform, the majority of which are SMEs and tradesmen.
Source: Sabah / Translated by Irem Yildiz
