By Vugar Khalilov
Turkey’s largest e-commerce platform Trendyol has become the country’s first “decacorn”, a term for startups that pass the $10 billion mark.
The Turkish technology company, with a new investment of 1.5 billion US dollars, increased its assets to 16.5 billion dollars..
The investments in Trendyol have been made by US General Atlantic and Japanese SoftBank Vision funds as well as Berlin-based Princeville Capital, ADQ (UAE) and Qatar Investment Authority (QIA). Trendyol's current investor, Alibaba, also invested an additional 350 million US dollars in the company in early 2021.
The Founder of the company, Demet Mutlu has said that as Turkey’s first “decacorn” Trendyol will strengthen its position in the international arena.
"This investment will increase international interest in Turkey's digital ecosystem and will accelerate the development of our industry" she added.
Founded under the umbrella of Trendyol Group in 2010, Trend employs a total of 4,000 people, including Trendyol Express couriers and service providers.
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