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.”