The giants of the traditional economy and new generation technology companies are changing places in Turkey. E-commerce companies have become the new leaders of the data-driven economy. Trendyol reached the position of Turkey’s most valuable company with a valuation of $16.5 billion.
The new generation technology companies and the giants of the old generation economy continue to change places in the ranking of Turkey’s most valuable companies. Technology company ranks first in the ranking of Turkey’s most valuable company. Trendyol became Turkey’s first double-digit billion dollar (Decacorn) e-commerce focused technology company. Getir, one of the new generation technology companies growing data-driven, ranks second.
GAMING STARTUPS ARE UP NEXT
With a valuation of $7.5 billion, Getir has started to use its different retail model all over the world. Initiatives such as Trendyol, Getir, Hepsiburada and Dream Games, which force the retail industry to change with a focus on data, draw attention with their different financing and investment models. E-commerce startups rank first among technology startups. Mobile gaming startups are also turning into successful giant technology startups in the data-driven entertainment economy they’ve gained. Moreover, those who made successful exit deals here continue to invest in the gaming ecosystem in Turkey. Turkey continues to launch new billion-dollar startups in mobile gaming ventures.
After the Peak, Rollic also proved that they can make great valuations in less than 2 years after successful exit deals. Dream Games, which reached a billion-dollar valuation in less than 2 years, was also among Turkey’s data-driven mobile gaming startups.
TRANSFORMATION WILL CONTINUE
Not only technology startups, but also older generation businesses are trying to adapt to data-driven transformation. The retail industry was among the industries that experienced the fastest transformation. The change that started before the pandemic continues after the pandemic.
Founded in 2010, Trendyol delivers more than 1 million packages per day to more than 30 million customers. Trendyol continues to create value and grow rapidly with Trendyol Tech, one of the leading R&D centers in Turkey, Trendyol Express, the fastest growing transportation network, Trendyol Go, which provides fast grocery and food delivery, and Dolap, the largest second-hand product platform.
THEY CHANGED THE HABITS OF THE TRADE
Trendyol increased its valuation to $16.5 billion with a new investment of $1.5 billion, becoming the first Turkish technology company with the definition of “decacorn”. Berlin-based Princeville Capital, ADQ (UAE) and Qatar Investment Authority (QIA) also participated in the new investment tour led by General Atlantic, one of America’s leading investment funds, and Japan-based SoftBank Vision Fund 2, which invests in the world’s largest technology companies. SoftBank Investment Advisers, one of the world’s largest technology investors, ADQ and Princeville Capital, one of the important investors in the region, made their first investments in Turkey with this investment round. With the new investment round, important investors from Asia, Europe, America, the Middle East and Turkey took part in Trendyol’s shareholding structure. Trendyol continues to be managed by the founders of the company and its senior staff in Turkey. Startups.Watch founder Serkan Unsal said that Trendyol’s being decacorn is the best example of how a startup from Turkey can raise the bar. Unsal continued: “Five or six years ago, when we were talking about our ecosystem abroad, we were saying that our ecosystem was in its infancy, but it was going very well. Now we can say that we have decacorn and that we are an important center in the game. All these will attract more foreign investors to our ecosystem. While investors are raising money from abroad for their funds, they will be able to write more for the Turkey page.”
Source: Sabah / Translated by Irem Yildiz