Latest news with #TrendyolGroup
Yahoo
06-05-2025
- Business
- Yahoo
Uber to Buy Controlling Stake in Turkish Food Delivery Platform Trendyol Go for $700 Million
Uber Technologies (UBER) said Tuesday it agreed to acquire an 85% stake in Trendyol Group's Turkish Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
Time of India
06-05-2025
- Business
- Time of India
Uber to buy controlling stake in Turkey's Trendyol GO food delivery business for $700 million
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. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Uber said it would buy a majority 85% 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 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 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%, Uber said on 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 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 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 has also been facing competition from rivals such as DoorDash in the food-delivery 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 is slated to report first-quarter results on Wednesday.
TechCrunch
06-05-2025
- Business
- TechCrunch
Uber Eats comes to Turkey via $700M Trendyol Go acquisition
Uber is expanding its presence in Turkey with its latest 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. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW 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.
CNA
06-05-2025
- Business
- CNA
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.
Yahoo
06-05-2025
- Business
- Yahoo
Uber to acquire 85% stake in Trendyol GO food delivery business for $700 million
(Reuters) - Uber Technologies said on Tuesday it has entered into an agreement with Turkish e-commerce firm Trendyol Group to acquire an 85% stake in its Trendyol GO online food delivery business for about $700 million in cash. (Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli)
