Turkey is known for its unique tobacco blends in the world commodities markets, but it's recently gained recognition as one of the leaders in e-commerce solutions. Trendyol is the nation's largest e-commerce platform and it's been making waves across the world with the high valuation of its digital transformation platform. It's a remarkable startup that is one of the most newsworthy companies in the world today. If you're not yet familiar with this enterprise, it's one we recommend learning about. Here are 20 things you probably didn't know about Trendyol that you're likely to be intrigued with.
1. Trendyol is a tech company that serves vendors and consumers
Crunchbase reveals that Trendyol is at its heart a tech company that provides an e-commerce platform for vendors and consumers. It provides a platform that allows its customers to purchase whatever items they want with a technology platform that ensures a smooth and efficient shopping experience. It delivers e-commerce services for fast, easy, and convenient shopping for a large variety of goods.
2. Trendyol is a versatile startup
Trendyol serves several industries and is therefore listed under four categories. The versatile enterprise serves the e-commerce community and provides mobile apps that make it convenient for shoppers to make purchases from anywhere. It is a shopping industry business that also serves the fashion community, among others.
3. Trendyol has been around for more than a decade
Trendyol was founded in 2009. Since that time it has grown and expanded to become the largest e-commerce company in the country of Turkey. Its headquarters is located in Istanbul, Turkey, a historic city formerly known as Constantinople. The company officially started providing its services in 2010. The legal name of the company is The Trendyol Group. It is also known as Trendyol.com.
4. Trendyol has a five-member executive leadership team
The core executive leadership team for Trendyol is composed of five members. Although this is a giant company, the base group of executives is top-notch and effective in executing their duties. Demet Suzan Mutlu is the founder and the chief executive officer of Trendyol. Begum Tekin is a managing partner. Yigit Darcin is the head of mobile and UGC and product catalog teams. Evren Ucok is a founder and executive chairman. Cenk Civici is a Trendyol Tech.
5. Trendyol has a three-member board of directors
The board of directors for Trendyol is made up of three members. These members provide advisement and direction for the executive leadership team. Aileen Lee is a founder and managing partner for Cowboy Ventures with three portfolio companies and one exit. She has founded one organization. Demet Suzan Mutlu is the chief executive officer and founder of Trendyol. She currently serves on one board of directors in an advisory role and she has founded one organization. Evren Ucok is a founder and managing partner of the Digital East Fund for Earlybird Venture Capital with one portfolio company. He currently serves on one board of directors in an advisory role.
6. Trendyol uses a complex array of technologies
Trendyol actively uses fifty technologies to power its website. It takes a team of IT workers to ensure that all of the technologies work together to ensure a smooth and seamless experience for visitors and users. These technologies are distributed across nineteen technology products and services including jQuery, LetsEncrypt, Google Tag Manager, Content Delivery Network, Googly Analytics, HTML5, and several others.
7. Trendyol has a high IT overhead
Although Trendyol has not made the budget for IT public, we know by experience that the volume and types of technologies and services it uses are expensive. Other companies that actively power their websites with these products pay high overhead expenses. The annual costs often exceed $100,000, even into the millions for larger enterprises.
8. Trendyol has a healthy monthly download average
Trendyol offers a variety of apps for download by its users. The most popular apps it provides are Trendyol-Online AI, isveris, Trendyol Satici Paneli, and Modagram. The total number of monthly downloads for the past thirty days was 1,792,112, which reflects a 4.78 decrease in the number of monthly downloads. The apps are most frequently downloaded from Google Play and Itunes Connect. It is worth noting that the monthly downloads of the app reflect the number of new or returning customers for Trendyol as others already have and use the app that no longer needs to make the downloads. This suggests that the company is growing its customer base by more than 1.78 million new users every month, and sometimes even more. It is no small wonder that it has grown to be the largest e-commerce provider in all of Turkey.
9. Trendyol is experiencing a growth in its monthly website visits
The analytics for Trendyol's website shows that web traffic has increased by 3.76 percent over the past thirty days. a total of 219,867,452 visitors browsed through the website. This high volume of web traffic has resulted in Trendyol achieving a ranking of number 168 of the millions of websites that are registered on the worldwide web. This is an astronomical figure. Only 167 websites throughout the world receive higher traffic volumes.
10. Trendyol is the most popular in Turkey
Trendyol's share of monthly visits shows that ninety-nine percent of the visitors are from the country of Turkey. It makes sense as the company serves people who live in this region. The number of monthly visits from Turkey has grown by 4.12 percent. The website is ranked as the seventh most popular in the country. One percent of the website traffic comes from Azerbaijan and less than one percent from the United States. This is valuable information that key decision-makers at Trendyol use in their strategic planning for growth and expansion.
11. Trendyol is a decacorn
Techcrunch reveals that Trendyol is the very first decacorn for the country of Turkey. We've frequently reported about startups that achieve the impressive and elite status of unicorns when they reach valuations of at least $1 billion. The larger question has been what do you call of business that goes way beyond that figure? Trendyol has set the precedent as a decacorn with a post-founding valuation of an astronomical $16.5 billion. This comes after a massive funding round that brought in a whopping $1.5 billion from investors.
12. Trendyol has raised the most funds of any other country in Turkey
Trendyol is a startup that keeps breaking records and setting the bar higher for others in its home country of Turkey. The e-commerce platform has raised the most money of any startup in the history of the country with the closing of its most recent round. It's an equity-funded privately held enterprise that has secured the interest and support of some of the wealthiest VC and equity capital investors on the planet.
13. Trendyol has 5 lead investors
Trendyol has five lead investors and a total of nine investors who back the company with their private equity funding support. The total amount raised over a series of just five rounds is $1.9 billion. The most recent round was completed on August 9, 2021, in a private equity round. Among the investors are ADQ, SoftBank Vision Fund, Princeville Capital, Qatar Investment Authority, co-leading the most recent round with ADQ, General Atlantic, and sovereign wealth funds.
14. Trendyol is backed by Alibaba
Bloomberg reports that the e-commerce giant Alibaba is a solid supporter of Trendyol. With friends like this, it doesn't matter if you have enemies. It's further revealed that Alibaba is a top stakeholder in the startup with an investment of $350 million into the business. It was at this point that Trendyol hit a valuation of more than $9 billion. It didn't take long for that number to grow. This puts Trendyol well above its next closest competitor with a valuation of $3.9 billion.
15. Trendyol's founder is a college dropout
Demet Mutlu is the founder and chief executive officer of Trendyol. She attended the prestigious Harvard Business School, but she dropped out before completing her program of study. We can tell by the current status of the company she owns that it didn't hurt her chances of becoming successful.
16. Trendyol serves over 30 million shoppers
This company has one of the largest customer bases of any business in the world. It provides an e-commerce platform that serves over 30 million shoppers. It has a delivery service that delivers over one million packages every day. It is the owner of Trendyol Express, an in-house delivery solution that gets the packages to the consumers with its last-mile delivery service.
17. Trendyol is the evolution of a super app
The CEO of Trendyol shared a little bit about the origins of the company. She shared that the company started as an e-commerce and delivery business that grew and expanded from just a marketplace to what she refers to as a "super app." This was accomplished by combining the marketplace platform, referred to as Trendyol Express, to its multi-product delivery system. Trendyol also offers instant food and grocery delivery services and it even has its out network of couriers for delivery through its Trendyol Go division. On top of this, it has a consumer-to-consumer channel that is called Dolap, as well as a digital wallet called Trendyol Pay, among other services. Trendyol has grown into a giant corporation in the e-commerce industry and it is one of the largest of its kind.
18. Trendyol plans to continue expansion
Trendyol is so large that it is hard to fathom its size and level of success, but it's just the beginning for the startup. We recently learned that Demet Suzan Mutlu has plans to further expand the Turkish operation to a global company. Trendyol is making investments in a nationwide infrastructure at the present, with an expansion of its digitalization of SMEs in Turkey, logistics, infrastructure, and technology, but she alluded to the possibility of creating new export channels for manufacturers and merchants in Turkey. With their sights set on international/global expansion, the e-commerce startup could likely become the largest in the world, but only time will tell.
19. Trendyol is growing in the workforce
Trendyol is presently the largest Turkish internet employer. Its massive size requires the use of large teams for its multiple business arms. The company employs over 2,000 workers in its various divisions. We recently learned that the company has multiple job openings for candidates living in any part of the country of Turkey. The job is full-time and is titled Developer in Test. It's a remote position that does not require workers to report daily to an office. Requirements are for experience in engineering, technology, and product engineering. The advertisement that Trendyol posted recruiting for new workers states emphatically that they are a tech company looking for talent. Workers are promised a fast-paced environment in a company that is forward moving. It's a job that requires skill, teamwork, and a personality that is driven to accomplish goals quickly.
20. Trendyol is a privately owned enterprise
You won't be able to find shares of Trendyol stock listed on any of the world's public stock exchanges. This is because the owner has opted to keep this a privately held enterprise. Trendyol is an equity and venture capital-funded business that has provided stakeholders with the agreed-upon interests in the profits for the company, however, Trendyol has not disclosed any details about these agreements. They're playing their cards close to the vest, and keeping the investor deals private. Regardless, Trendyol is a company to keep your eye on. We expect to hear a lot more about it in the months and years to come. Who knows? at some point, they may decide to take it public and open it up to other investors.
Written by Allen Lee
Read more posts by Allen Lee