Alibaba, one of the most important online e-trading companies in the world, has invested in Trendyol, one of Turkey’s major e-commerce platforms. In the statement made by Alibaba there was no information regarding the amount of investment made.
Trendyol, founded by Demet Mutlu in 2010, is one of the most popular “fashion shopping sites” platforms for women. Alibaba, which has become Trendyol's new strategic partner with the investment, will also buy the shares of Trendyol's existing financial investors.
This investment is considered to be very important in terms of showing Alibaba's commitment to globalization and being one of the investments made in Turkey from a world giant. Following the deal between two companies Trendyol and Alibaba will work together to accelerate and strengthen the growth of Trendyol in Turkey, as well as the surrounding countries.
Moreover, Alibaba will share its knowledge and experience in topics such as technology, online trade, mobile payment, logistics and international trade with Trendyol during the whole process.
Demet Mutlu, CEO of Trendyol which has a prominent position in the fast growing e-trade market in Turkey and the surrounding countries with over 16 million customers said in her statement that Alibaba and Trendyol had similar cultures and values and shared similar great goals regarding the digital ecosystem.
The CEO also expressed that they had created Turkey’s largest and fastest growing e-commerce platform in their journey that had started with 5 people 8 years ago and they were very excited about this partnership.
Michael Evans, Alibaba Group Chairman and Board Member on the other hand expressed in his statement that Turkey was quite an exciting and important market. Evans mentioned that Alibaba would become partners in a leading brand in the market and added that current Trendyol management would continue to run the company.