Uber Eats comes to Turkey via $700M Trendyol Go acquisition
The ride-hail and delivery giant has acquired an 85% controlling stake in Trendyol Go, the online meal and grocery delivery business based in Istanbul, for about $700 million in cash. The deal gives Uber instant market share for Uber Eats in the country, where Uber currently only operates a ride-hail service.
Uber's acquisition announcement comes a day before the company is scheduled to report its first-quarter earnings. And with consumer spending projected to fall in 2025 due to President Trump's tariffs, investors will want reassurance that Uber is still poised for growth, even as the company recently pulled out of its $950 million bid for Delivery Hero's Foodpanda business in Taiwan.
Uber has been laying the groundwork for expansion in other arenas, too. It seems like every few weeks, Uber announces a new autonomous vehicle partnership across its ride-hail, delivery, and freight verticals.
Trendyol Go is the food delivery arm of parent company Trendyol Group, a fashion and retail e-commerce platform, which is majority-owned by Alibaba. The company said in a filing that it delivered more than 200 million orders in 2024, generating $2 billion in gross bookings, which was up 50% from the previous year. There are more than 90,000 restaurants and 19,000 couriers on its marketplace.
The acquisition is expected to close in the second half of 2025. When it does, users will be able to keep using the Trendyol Go app, and Uber will 'introduce key capabilities over the coming years from Uber Eats,' the company said.
TechCrunch has asked Uber for more information.
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Uber's latest acquisition comes as it struggles for market share back home in the U.S. due to competition from DoorDash. In February, Uber filed suit against DoorDash, alleging anticompetitive behavior. DoorDash has urged the courts to dismiss the case.
Earlier today, DoorDash announced two major acquisitions to expand its presence in Europe: The U.K.'s Deliveroo for $3.86 billion and SevenRooms for $1.2 billion.
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