Key takeaways:
- Uber announces acquisition of 85% stake in Trendyol GO for $700 million.
- Trendyol GO delivered over 200 million orders in 2024, generating $2 billion in gross bookings.
- The acquisition positions Uber to leverage Turkey’s burgeoning food delivery market.
Detailed Analysis
Uber Technologies Inc. has embarked on a significant expansion into the Turkish market by agreeing to acquire an 85% stake in Trendyol GO, the food delivery service of e-commerce giant Trendyol, for approximately $700 million in cash. This acquisition reflects Uber’s strategy to dive deeper into high-growth, underserved markets, capitalizing on the increasing demand for food delivery and logistics services in Turkey 1.
Founded in 2020, Trendyol GO has quickly established itself as a major player in Turkey’s food delivery sector. In 2024 alone, the platform facilitated over 200 million orders, resulting in $2 billion in gross bookings—a surge of over 50% compared to the prior year. This impressive growth underscores the rising consumer adoption of online delivery services in Turkey, particularly among urban populations 2.
Uber’s CEO, Dara Khosrowshahi, emphasized the strategic importance of this acquisition, stating, “Turkey is one of the world’s fastest-growing digital economies, and we look forward to building on Trendyol GO’s strong local foundation.” The deal is expected to close in the second half of 2025, pending the necessary regulatory approvals 3.
The decision to acquire Trendyol GO aligns well with Uber’s broader objective of integrating localized platforms into its network, providing enhanced service offerings to restaurants, merchants, and consumers alike. Currently, Trendyol GO collaborates with over 90,000 restaurants and employs around 19,000 couriers, creating a robust infrastructure that Uber aims to optimize with its global logistics capabilities 4.
The acquisition is also noteworthy in the context of an increasingly competitive food delivery sector in Turkey. Local players such as Getir and Yemeksepeti have already established significant market presence, which may intensify competition post-acquisition. However, Uber’s extensive resources and international experience may provide a competitive edge 5.
Conclusion
Uber’s planned acquisition of Trendyol GO highlights its commitment to expanding in rapidly growing markets like Turkey, which has shown substantial demand for food delivery services. With the expected closure of the deal later this year, Uber is well-positioned to capitalize on the burgeoning digital economy in Turkey while also contributing to the growth trajectories of local businesses and the overall market.
As retail investors watch Uber’s movements closely, this acquisition could signal a strengthening of its market position amid rising competition and evolving consumer preferences. Furthermore, successful integration of Trendyol GO may bolster Uber’s overall financial performance and diversify its revenue streams beyond traditional ride-hailing services 6.
References
1 Uber to Buy $700 Million Stake in Turkish Delivery App Trendyol. Bloomberg. Retrieved May 6, 2025.
2 Uber Agrees to Buy Controlling Stake in Turkish Food Delivery Platform for $700 Million. Reuters. Retrieved May 6, 2025.
3 Uber Agrees to Buy Controlling Stake in Turkish Food Delivery Platform for $700 Million. Morningstar. Retrieved May 6, 2025.
4 Uber To Acquire 85% Stake In Turkish E-Commerce Platform Trendyol GO For $700M. MarketWatch. Retrieved May 6, 2025.
5 Uber to Acquire 85% of Turkey’s Trendyol Go for $700 Million. Pakistan Today. Retrieved May 6, 2025.
6 Uber’s $700 Million Bet: Entering Turkey’s Booming Food Delivery Market with Trendyol GO. WebProNews. Retrieved May 6, 2025.