Turkey’s Trendyol Valuation Set to Hit $16.5 Billion

Trendyol, a leading e-commerce company in Turkey is set to be valued at USD16.5bn. The funding round would make Trendyol’s Turkey’s only “decacorn” with a valuation of more than $10 billion.

“The e-commerce company has benefited from a surge in online buying in Turkey, which jumped 66% last year, according to the trade ministry. Trendyol’s gross merchandise value, a measure of the products it sells on its platform, has grown by about 20 times in the past three years and is on track to hit $10 billion this year, people familiar with the company said in April. The company may sell shares in two years through an initial public offering, the people said at the time.”

Source: Bloomberg

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