Trendyol May Be Offered to the Public in the Medium Term

Trendyol may be offered to the public in the medium term. Trendyol Group President Çağlayan Çetin announced the company's plans.

Trendyol Group President Çağlayan Çetin, who was a guest of Bloomberg HT, made some statements about Trendyol's increasing its valuation to 16.5 billion dollars with a new investment of 1.5 billion dollars and being the first "decacorn" to come out of Turkey. Explaining the investment process of Trendyol, Turkey's first decacorn, Çetin said that they could invite any investor they wanted to the investment tour during this process and that Softbank's first investment in Turkey was made to Trendyol. The term "decacorn", which is used for companies with a value exceeding $10 billion, is extremely important for the evaluation of venture capital. The new investors of Trendyol, whose majority shares are in Chinese Alibaba, include Qatar Wealth Fund, General Atlantic, Japan-based SoftBank Vision Fund 2, Berlin-based Princeville Capital and Abu Dhabi's national wealth fund ADQ. Çetin stated that one of the most important goals of globalizing the company's shareholding structure when they started the investment process, said, "Actually, we entered an investment process of 1 billion dollars, but we saw that there is a serious interest in Trendyol. We received a demand of over 6 billion dollars. With this investment, we have opened the country's digital ecosystem to the world. We see that our growth story will be supported worldwide." Noting that they are the third largest non-public technology company in Europe, Çetin stated that they are a "serious player" in e-commerce not only in Europe but also globally, and that they derive their greatest strength from their R&D studies. Çetin noted that the company has nearly a thousand technology engineers, its total employment has reached 20 thousand people, and the total number of customers has reached 30 million. IPO Plan Çetin said the following in a statement about the company's new investment, employment and growth targets: "We have a medium-term public offering plan. We have 3-4 more years for the public offering." Stating that they will continue to bring foreign capital to Turkey, Çetin underlined that one of their most important investments will be e-export and that Turkey will be Trendyol's most important main market.