Uber said it would buy a majority 85% stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
The stake purchase from Turkish e-commerce firm Trendyol Group gives Uber control of a platform that serves customers nationwide, delivering groceries and meals from over 90,000 restaurants and markets through 19,000 couriers.
In 2024, Trendyol Go delivered more than 200 million orders and racked up about $2 billion in gross bookings, marking a year-on-year surge of more than 50%, Uber said on Tuesday.
The deal, expected to close in the second half of 2025, will immediately add to the U.S. company's growth. The Trendyol Go app will continue to operate independently, while Uber plans to integrate features from its delivery arm, Uber Eats, over time.
The move comes weeks after Uber terminated its $950 million bid for Delivery Hero's, opens new tab Foodpanda business in Taiwan, due to regulatory hurdles, including anti-competitive concerns raised by the island nation's government in December.
Already a dominant ride-hailing service in North America, Uber has been trying to reassure investors of its growth potential by expanding its business portfolio and collaborating with self-driving vehicle partners.
It has also been facing competition from rivals such as DoorDash in the food-delivery business.
DoorDash, opens new tab said earlier in the day it would buy Deliveroo, opens new tab in a deal valuing the British rival at about 2.9 billion pounds ($3.85 billion), banking on a bigger reach and local expertise to take on competition. The acquisition will help DoorDash grow its market share in Europe, competing against Just Eat and Uber Eats.
A trilateral meeting between delegations from the United States, Ukraine, and Türkiye ended in Istanbul on Friday. The one-hour session, led by Turkish Foreign Minister Hakan Fidan, focused on a peaceful resolution to the Russia–Ukraine war.
On May 15, President of Uzbekistan Shavkat Mirziyoyev received a Turkish delegation led by Vice President Cevdet Yılmaz to strengthen the comprehensive strategic partnership between the two countries, particularly in trade and investment.
Ukraine and Russia have initiated their first direct peace talks in over three years in Istanbul. The absence of Presidents Zelenskyy and Putin casts uncertainty over the potential for significant progress.
Turkish Foreign Minister Hakan Fidan has called for compromise between Russia and Ukraine, emphasizing Türkiye's hope for fruitful discussions as peace talks between the two nations are set to begin in Istanbul.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Two North Korean fishermen picked up by South Korean patrols in March remain stranded in the South as Pyongyang refuses to respond to requests for their return.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Delegations from Russia and Ukraine met in Türkiye for their first direct peace talks since 2022, with discussions lasting under two hours.
The number of billionaires in the UK has dropped for the second year in a row, hitting the lowest level in over a decade, according to The Sunday Times Rich List 2025.
The European Bank for Reconstruction and Development (EBRD) has approved a trade finance line of up to $5 million (€4.4 million) for Unibank under its Trade Facilitation Programme (TFP). The agreement, signed during the EBRD’s 2025 Annual Meeting in London.
Vietnam has approved a $1.5 billion project by the Trump Organization and Kinhbac City to build golf courses, resorts, and homes. Work is set to begin this quarter and finish by mid-2029.
S&P says easing tariff tensions between the US and China has improved macroeconomic conditions by lowering uncertainty, boosting markets, and reducing risks, though global trade challenges still weigh on credit conditions.
The European Bank for Reconstruction and Development (EBRD), in partnership with the European Union (EU), is enhancing access to finance for micro, small, and medium-sized enterprises across Central Asia and Mongolia.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
Two North Korean fishermen picked up by South Korean patrols in March remain stranded in the South as Pyongyang refuses to respond to requests for their return.
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