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Uber buys a majority stake in the Turkish food delivery service Trendyol GO for 700 million US dollars and expands its business portfolio.
The US service provider Uber has announced that it is acquiring an 85 percent majority stake in the Turkish food delivery platform Trendyol for 700 million US dollars, which is currently controlled by the Chinese e-commerce giant Alibaba. According to observers, the move, which was reported by various media on Tuesday, is an attempt by Uber to tap into new growth markets.
The Trendyol Group is one of Turkey's largest e-commerce platforms. With Trendyol Go, it operates an app-based delivery service for food and groceries that serves customers nationwide and delivers food and meals from over 90,000 restaurants and markets via 19,000 couriers, according to the Reuters news agency. Trendyol Go delivered more than 200 million orders in 2024 and generated gross sales of around two billion US dollars - an increase of more than 50 percent compared to the previous year.
According to the news agency Bloomberg, the transaction will be settled in cash and without incurring debt. This was announced by Uber in a report to the US Securities and Exchange Commission (SEC) on Tuesday. If the authority gives the green light, the transaction should be completed in the second half of the year, according to the report. The Trendyol Go app will then continue to be available to customers, dealers and couriers as a separate service. However, according to Reuters, Uber plans to integrate functions of its delivery service Uber Eats over time.
Expansion of the business portfolio
Although Uber dominates the US market with its ride-hailing service, it is reaching the limits of its growth there. The US company is therefore trying to expand its business portfolio and tap into new markets. In mid-April, Uber announced that it would be bringing self-driving cars onto the roads in the USA from 2026 in collaboration with Volkswagen.
However, Uber withdrew its 950 million US dollar offer for the Taiwan business of Delivery Hero subsidiary Foodpanda a few weeks ago due to regulatory hurdles. Among other things, the government in Taipei had expressed competition concerns. Delivery Hero will probably retain its business in Southeast Asia. And Uber has now set its sights on the Turkish market with the Trendyol takeover.
It was also announced on Tuesday that the US food delivery service and Uber competitor DoorDash wants to take over the British company Deliveroo for 2.9 billion British pounds (3.4 billion euros). The boards of directors of both companies have agreed on the deal.
https://www.heise.de/news/Uber-uebernimmt-den-tuerkischen-Lieferdienst-Trendyol-10374124.html
