- Uber (UBER) is acquiring an 85% stake in Turkish food delivery platform Trendyol GO for $700 million, with the deal expected to close in the second half of 2025, pending regulatory approval.
- Trendyol GO, hosting 90,000 restaurants and 19,000 couriers, delivered over 200 million orders in 2024, generating $2 billion in gross bookings, a 50% year-over-year increase.
- The acquisition, anticipated to boost Uber’s growth, aligns with its Q1 earnings outlook of $11.61 billion in revenue (up 14%-plus year-over-year) and $0.70 non-GAAP EPS, with its stock trading at $85.69.
Uber Technologies Inc. (UBER), with its stock trading at $85.69, is poised to deepen its global footprint through a strategic $700 million cash acquisition of an 85% stake in Trendyol GO, a leading Turkish food delivery platform, as outlined in a recent securities filing. This move, pending regulatory approval and expected to close in the second half of 2025, underscores Uber’s ambition to strengthen its presence in Türkiye’s burgeoning delivery market. Trendyol GO, operated by the Alibaba-majority-owned Turkish e-commerce giant Trendyol, has demonstrated robust growth, delivering over 200 million orders in 2024 and generating $2 billion in gross bookings—a 50% increase year-over-year. With approximately 90,000 restaurants and 19,000 couriers, the platform is a cornerstone of Türkiye’s food delivery ecosystem, making it an attractive target for Uber’s expansion strategy.
CEO Dara Khosrowshahi emphasized the deal’s potential to transform Türkiye’s delivery sector, highlighting benefits for consumers, couriers, and small businesses, particularly family-owned restaurants and retailers. The acquisition aligns with Uber’s broader vision of integrating localized platforms into its global network, leveraging its technological and operational expertise to enhance service quality and market reach. Uber anticipates the transaction will be accretive to its growth, bolstering its financial performance as it continues to diversify beyond ride-hailing. This move comes at a pivotal moment, with Uber set to announce its first-quarter earnings on Wednesday, where analysts project a 14.5% year-over-year revenue increase to $11.61 billion and non-GAAP earnings per share of $0.70. The company’s stock, reflecting slight gains, signals investor confidence in its strategic maneuvers.
The acquisition of Trendyol GO reflects broader trends in the global delivery market, where consolidation and strategic partnerships are reshaping competitive dynamics. Türkiye’s growing digital economy, driven by increasing smartphone penetration and urban demand for convenience, presents a fertile ground for Uber’s investment. Trendyol GO’s established network complements Uber’s existing operations, potentially enabling synergies in logistics and customer engagement. However, regulatory scrutiny in Türkiye, where competition authorities closely monitor foreign investments, could pose challenges to the deal’s closure. Uber’s commitment to maintaining Trendyol GO’s momentum suggests a focus on preserving local expertise while integrating its global playbook. As Uber navigates this acquisition, its ability to balance growth ambitions with operational integration will be critical to realizing the deal’s promised value in Türkiye’s dynamic market.
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