Alibaba's investment in Trendyol has been revealed to be a majority stake acquisition that valued the e-commerce marketplace at $750m.
E-commerce firm Alibaba has acquired a majority stake in Turkey-based e-commerce platform Trendyol at a valuation of at least $750m, Axios has reported, citing multiple sources.
Founded in 2010, Trendyol runs an online marketplace it claims receives more than 90 million monthly visits. Alibaba’s investment was made in connection with a collaboration agreement that will support growth in Turkey and the surrounding region.
Details of the deal follows reports in June 2018 that Alibaba was set to invest in…
