Uber to buy controlling stake in Turkey's Trendyol GO food delivery business for $700 million
Uber said it would buy a majority 85 per cent stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
The stake purchase from Turkish e-commerce firm Trendyol Group gives Uber control of a platform that serves customers nationwide, delivering groceries and meals from over 90,000 restaurants and markets through 19,000 couriers.
In 2024, Trendyol Go delivered more than 200 million orders and racked up about $2 billion in gross bookings, marking a year-on-year surge of more than 50 per cent, Uber said on Tuesday.
The deal, expected to close in the second half of 2025, will immediately add to the U.S. company's growth. The Trendyol Go app will continue to operate independently, while Uber plans to integrate features from its delivery arm, Uber Eats, over time.
The move comes weeks after Uber terminated its $950 million bid for Delivery Hero's Foodpanda business in Taiwan, due to regulatory hurdles, including anti-competitive concerns raised by the island nation's government in December.
Already a dominant ride-hailing service in North America, Uber has been trying to reassure investors of its growth potential by expanding its business portfolio and collaborating with self-driving vehicle partners.
It has also been facing competition from rivals such as DoorDash in the food-delivery business.
DoorDash said earlier in the day it would buy Deliveroo in a deal valuing the British rival at about 2.9 billion pounds ($3.85 billion), banking on a bigger reach and local expertise to take on competition. The acquisition will help DoorDash grow its market share in Europe, competing against Just Eat and Uber Eats.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
5 days ago
- Business Times
As birthrates fall, Turkey's government steps in
[ISTANBUL] Alarmed by the fact that Turkish women are having fewer children, President Recep Tayyip Erdogan has moved to tackle falling birthrates – 'a threat greater than war' – through policies designed to bring on the babies. After declaring 2025 Turkey's 'Year of the Family', Erdogan last month announced 2026 would mark the start of the 'Decade of the Family'. But his pleas for women to have at least three children and offers of financial incentives for newlyweds may not be enough as Turkey grapples with a deepening economic crisis. Official figures show Turkey's birthrate has fallen from 2.38 children per woman in 2001 to 1.48 in 2025 – lower than in France, Britain or the United States – in what Erdogan, a 71-year-old pious Muslim and father-of-four, has denounced as 'a disaster'. During his 22 years in office – first as premier, then president – fertility rates have dropped sharply in this country of 85 million people. Erdogan has blamed both women and LGBTQ 'perverts'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Women and LGBTQ+ individuals are considered the only culprits for the declining population growth rate, with no acknowledgement of political mistakes,' said retired academic and feminist activist Berrin Sonmez. 'People might be hesitant to have children in this chaotic and uncertain environment. Additionally, child support is almost non-existent and education has become the most expensive sector,' she said. High inflation has raged in Turkey for the past four years, forcing education costs up by more than 70 per cent over the past year, official data shows. In the first quarter, unemployment stood at 8.2 per cent, or 15 per cent among 15- to 24-year-olds. Researchers with the DISK union say the real rate is 28.5 per cent, and 37.5 per cent among young people. But the government seems bent on fixing other issues, such as Turkey's record number of elective Caesarean births – which stands at 61 per cent, rising to 78 per cent in some private hospitals. In April, Turkey banned C-section births at private healthcare facilities 'without a medical justification'. The procedure generally limits the number of pregnancies to two, or a maximum of three. Medical professionals say the high number of C-sections is linked to the rampant privatisation of the healthcare system since the late 1990s. C-sections are more time-efficient for medical staff – 30 minutes, versus 12 hours for a traditional delivery – and lower the risk of legal action over complications, said Hakan Coker, an Istanbul-based gynaecologist. 'Ultimately, C-sections are perceived as a guarantee of safety' for doctors and women alike, he said. Dr Harika Bodur, an obstetrician at a major Istanbul hospital, said some women ask for a C-section 'at the first appointment for fear of pain'. 'If you refuse, they'll go elsewhere,' she said. The fear is rooted in a lack of education and discomfort with sexuality, she said. The health ministry says it is now 'aiming for a target rate of 20 per cent (of C-sections) by encouraging normal childbirth through education of future parents'. But the word 'normal' has raised hackles – notably last month when a football team carried a huge banner promoting vaginal births onto the pitch before a top-flight clash, which read: 'Natural birth is normal.' 'If I don't want to, I won't have any children at all, it's my right,' said 23-year-old chemistry student Secil Murtazaoglu. 'Access to abortion is already difficult. Now they want to limit C-sections. It's all about the oppression of women,' she said. In 2012, the Turkish president described abortion as 'murder', but stopped short of banning it. By offering interest-free loans of 150,000 Turkish lira (S$4,900) for newlyweds and a monthly allowance of 5,000 lira from the third child onwards, Erdogan was trying 'to turn women into birthing machines', Murtazaoglu said. Feminist activist Sonmez said women were subjected to huge pressures, both within their families and within society, when the much more pressing issue was the need to tackle gender violence. 'We must start by combating violence against women: such policies have been eradicated and protections seriously undermined,' she said. AFP
CNA
5 days ago
- CNA
Amazon prepares to test humanoid robots for deliveries, The Information reports
Amazon is developing software for humanoid robots that could eventually take the jobs of delivery workers, The Information reported on Wednesday, citing a person familiar with the matter. Reuters could not immediately confirm the report. Amazon is completing construction of a "humanoid park," an indoor obstacle course at one of the company's San Francisco, California offices, where it will soon test such robots, the report added. The company is developing the artificial intelligence software that would power such robots, the report said, adding that Amazon plans to use hardware from other firms in its tests, for now. Amazon did not immediately respond to a request for a comment outside its regular business hours. In a series of announcements on Wednesday, Amazon demonstrated how stockroom robots, delivery people and its sprawling warehouses will all benefit from a hefty dose of AI, speeding packages to customer doorsteps.
CNA
5 days ago
- CNA
Amazon prepares to test humanoid robots for package deliveries, The Information reports
Amazon is developing software for humanoid robots that could eventually take the jobs of delivery workers, The Information reported on Wednesday.
