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 products in 2020 alone. In addition to Alibaba, the founding partner of the company, Demet Mutlu holds 6.96% of the company’s shares while Evren Üçok owns 5.55%, Begüm Tekin owns 0.78%, and Zeki Güçlü Kaya owns 0.21% of the shares.
According to Webrazzi, there are also rumors that the company is planning a new investment tour and aims to increase its valuation to at least $15 billion in the near future.