We have shared the news on the new investment Trendyol received from the world’s leading e-commerce and mobile commerce company, Alibaba. There has been no official word on the amount of the investment or valuation, but we know that Alibaba is acquiring shares from Trendyol’s existing investors.
Now, we will take a closer look on which investors exited due to the investment of Alibaba. Trendyol had funding from investors including Tiger Global, Kleiner Perkins Caufield & Byers, Maide Kurttepeli, Emre Kurttepeli and European Bank for Reconstruction and Development (EBRD).
New York-based Tiger Global Management is the largest investor of Trendyol and has invested three times in Trendyol. In first round, Trendyol received an investment of 4.3 million TL, and in the next round, $10 million from Tiger Global. Before the investment of Alibaba, Tiger Global owned 54 percent of the shares.
One of the domestic investors of Trendyol, Emre Kurttepeli, owned 0.6 percent of the shares and Maide Kurttepeli had approximately 1 percent of the shares. In 2014, European Bank for Reconstruction and Development (EBRD) invested in Trendyol and the company owned 4.8 percent of the shares.
Another large shareholder of Turkey’s fast-growing e-commerce company Trendyol is Kleiner Perkins Caufiled & Byers (KPCB). KPCB invested in Trendyol in 2012 with Tiger Global. As a result of the investment, KPCB owned 14 percent of Trendyol’s shares. With the investment of Alibaba, the above mentioned five investors exited.
Alibaba now owns approximately 75 percent of Trendyol
As the investors of Trendyol sold their shares, Alibaba currently owns approximately 75 percent of the company. With its investment, Alibaba is the strategic partner of Trendyol, but the management team will remain unchanged. The founders and current management team will continue leading the company. We will share the information, when the amount of investment and valuation are announced.