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.
President of Azerbaijan Ilham Aliyev, in a message to participants of the 28th Eurasian Economic Summit, praised the strong Azerbaijani–Turkish partnership and reaffirmed Azerbaijan’s commitment to promoting peace, tolerance, and interfaith harmony.
Representatives from Türkiye and Israel are meeting in Azerbaijan's capital today for informal negotiations aimed at de-escalating tensions over activities in Syria and preventing potential conflict.
Türkiye and the United Kingdom have agreed to begin the first round of negotiations by the end of July to modernize and expand their Free Trade Agreement, aiming to boost economic ties and reflect evolving trade priorities.
Turkish Foreign Minister Hakan Fidan will travel to Warsaw on Thursday to attend an informal meeting of EU foreign ministers, focusing on regional security, hybrid threats, and Türkiye-EU cooperation.
Turkey's Halkbank asked the U.S. Supreme Court to review a lower court ruling saying it can be prosecuted for allegedly helping Iran evade American sanctions, a U.S.-based lawyer for the bank said on Monday.
A new rose has been named after Catherine, Princess of Wales, to promote the healing benefits of nature.
A fragment of the Soviet spacecraft Kosmos 482, launched in 1972, is expected to crash back to Earth between 9 and 10 May, according to space agencies monitoring its re-entry.
FIFA has approved a major expansion of the Women’s World Cup, increasing the number of participating teams to 48 starting from the 2031 edition.
Mexico is suing Google for disregarding repeated requests to stop referring to the Gulf of Mexico as the "Gulf of America" for U.S. users on Google Maps.
Explosions were heard in Rawalpindi and Islamabad around 2:30 a.m. local time as a ballistic missile attack targeting Nur Khan Airbase was intercepted, according to Pakistani security sources.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
A Rafale fighter jet operated by the Indian Air Force has reportedly been shot down for the first time in combat, according to sources cited by CNN, marking a significant and symbolic development in the ongoing escalation between India and Pakistan.
In a notable shift from traditional Republican policy, President Donald Trump has proposed raising taxes on high-income earners to help finance broader tax cuts for middle- and working-class Americans.
Ukraine is exploring whether to replace the U.S. dollar with the euro as its reference currency, as Kyiv aligns more closely with the EU and global trade fractures deepen.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
Ford is raising prices on three of its Mexico-made models starting May 2, becoming one of the first major automakers to react to U.S. President Donald Trump's steep auto tariffs, which are reshaping industry costs and consumer prices.
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
A new rose has been named after Catherine, Princess of Wales, to promote the healing benefits of nature.
A fragment of the Soviet spacecraft Kosmos 482, launched in 1972, is expected to crash back to Earth between 9 and 10 May, according to space agencies monitoring its re-entry.
FIFA has approved a major expansion of the Women’s World Cup, increasing the number of participating teams to 48 starting from the 2031 edition.
Mexico is suing Google for disregarding repeated requests to stop referring to the Gulf of Mexico as the "Gulf of America" for U.S. users on Google Maps.
Explosions were heard in Rawalpindi and Islamabad around 2:30 a.m. local time as a ballistic missile attack targeting Nur Khan Airbase was intercepted, according to Pakistani security sources.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment