Tag Archives: turkish economy

by in Turkish Economy and Business Life

HepsiBurada Becomes First Turkish Company to be listed on the NASDAQ

One of Turkey’s leading e-commerce platforms, HepsiBurada became the first Turkish company to be listed on the NASDAQ stock market in the US. With this IPO, HepsiBurada reached a valuation of $3.9 billion. The company, which was offered to the public with a pricing of $12 per share, increased its share prices by 12% from […]

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Dream Games Becomes Turkey’s New “Unicorn”

Dream Games, Turkey’s leading mobile gaming company, becomes Turkey’s new unicorn by reaching a $1 billion valuation. Founded in 2019, Dream Games became Turkey’s fourth unicorn company after Peak Games, Trendyol, and Getir. The company received a $155 million investment in the Series B investment round. The investment round was co-led by Index Ventures and […]

by in Turkish Economy and Business Life

Turkish Economy Grows 7% in Q1 2021

According to the data of the Turkish Statistical Institute (TurkStat), Turkey’s economy has shown a growth rate of 7% in the first quarter of 2021. Unlike most economies struggling with the effects of Covid-19, Turkey’s economy grew at a larger than expected in the first quarter, outperforming the 6.7% forecast. Compared with other countries, Turkey’s […]

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Trendyol Becomes Turkey’s Most Valuable Company with New Investment from Alibaba

One of Turkey’s leading e-commerce company Trendyol received a new investment of $350 million from its partner company Alibaba. With this new investment, Trendyol increases its valuation to $9.35 billion and becomes the most valuable company in Turkey. With 86.50% of the company’s shares, Alibaba is the largest shareholder of Trendyol, which sold 347 million […]

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Interesting Facts About Turkey

With its unique part in the history of the world civilizations, Turkey has a rich culture and important role in the global economy, agriculture, and trade. There are many interesting facts about Turkey that are still not commonly known. Turkish economy was one of the few economies which grew despite the pandemic in 2020 Covid-19 […]

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Turkey Ranks 11th Place Globally In Terms of GDP

According to World Economic Outlook April 2021 report published by the International Monetary Fund (IMF), Turkey ranks 11th place globally in terms of GDP at PPP in 2020, up from 13th place in the previous year.​ IMF also revised the Turkish economy’s growth forecast to 6 percent in 2021, up from 5.5 percent. Turkey is […]

by in Turkish Economy and Business Life

Chinese Tech Company Xiaomi Opens Factory in Turkey

Chinese technology company Xiaomi opened a production factory in Istanbul on March 29, 2021, with supply giant Salcomp. According to Anatolian Agency, Xiaomi’s production factory established on a 14,000-square-meter (around 150,700-square-feet) area will employ 2,000 people with the promise of producing five million smartphones per year. Turkey is the fourth country in the world where […]

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