Uber on Tuesday introduced its plan to amass an 85% majority stake in Türkiye’s meals and grocery supply service, Trendyol Go, for $700 million, because the ride-hailing big seeks to broaden into new markets as its core North American business exhibits indicators of reaching saturation.
The stake buy from Turkish e-commerce agency Trendyol Group provides Uber management of a platform that serves clients nationwide, delivering groceries and meals from over 90,000 eating places and markets by way of 19,000 couriers.
In 2024, Trendyol Go delivered greater than 200 million orders and racked up about $2 billion in gross bookings, marking a year-over-year surge of greater than 50%, Uber stated on Tuesday.
The deal, anticipated to shut within the second half of 2025, will instantly add to the U.S. firm’s progress. The Trendyol Go app will proceed to function independently, whereas Uber plans to combine options from its supply arm, Uber Eats, over time.
The transfer comes weeks after Uber terminated its $950 million bid for Delivery Hero’s Foodpanda business in Taiwan, as a result of regulatory hurdles, together with anti-competitive considerations raised by the island nation’s authorities in December.
Already a dominant ride-hailing service in North America, Uber has been making an attempt to reassure buyers of its progress potential by increasing its business portfolio and collaborating with self-driving automobile companions.
It has additionally been going through competitors from rivals reminiscent of DoorDash within the food-delivery business.
DoorDash stated earlier within the day it might purchase Deliveroo in a deal valuing the British rival at about 2.9 billion kilos ($3.85 billion), banking on an even bigger attain and native experience to tackle competitors. The acquisition will assist DoorDash develop its market share in Europe, competing towards Just Eat and Uber Eats.
Uber is slated to report first-quarter outcomes on Wednesday.
Source: www.dailysabah.com