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.
Türkiye has thrown its full support behind NATO’s new pledge to raise collective defence spending to 5% of GDP by 2035, with Ankara confirming it is already surpassing the previous 2% benchmark and accelerating efforts to bolster national and regional security.
President Recep Tayyip Erdogan has said that U.S. President Donald Trump is ready to join a Ukraine peace summit in Türkiye, but only if Russian President Vladimir Putin also agrees to attend.
Türkiye supports NATO's new 5% defence spending target and says it has already surpassed the previous 2% benchmark, according to a Turkish defense ministry source.
Turkish President Recep Tayyip Erdogan met his Romanian counterpart Nicusor Dan on the sidelines of the NATO summit in The Hague, reaffirming a commitment to deepen bilateral ties and enhance Black Sea security.
German Chancellor Friedrich Merz praised Türkiye’s diplomatic efforts to mediate between Russia and Ukraine, calling for greater international pressure to push Moscow toward peace negotiations.
The man behind one of Japan’s most disturbing serial murder cases—dubbed the ‘Twitter killer’—has been executed, breaking a nearly three-year pause in the country’s use of capital punishment.
Iranian Foreign Minister Abbas Araghchi said on Thursday that Tehran has not made any decision to begin new nuclear talks with the United States, dismissing recent claims by President Donald Trump about a planned meeting.
SoftBank CEO Masayoshi Son said on Friday the group aims to become the world’s top platform provider for artificial super intelligence within the next decade, signaling a bold new direction for the Japanese tech giant.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
An unusual blast of cold air from Antarctica has swept across Uruguay, causing the deaths of at least seven homeless people and forcing authorities to declare a state of emergency.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
Universal’s new theme park in Bedford, UK has secured a government support package worth around £500 million ($686 million) for rail and road upgrades, as part of a wider package to boost infrastructure ahead of the park’s planned 2031 opening.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
Bitcoin and other cryptocurrencies regained value following a ceasefire between Israel and Iran, bouncing back after steep losses during the 12-day conflict.
The man behind one of Japan’s most disturbing serial murder cases—dubbed the ‘Twitter killer’—has been executed, breaking a nearly three-year pause in the country’s use of capital punishment.
Iranian Foreign Minister Abbas Araghchi said on Thursday that Tehran has not made any decision to begin new nuclear talks with the United States, dismissing recent claims by President Donald Trump about a planned meeting.
SoftBank CEO Masayoshi Son said on Friday the group aims to become the world’s top platform provider for artificial super intelligence within the next decade, signaling a bold new direction for the Japanese tech giant.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
An unusual blast of cold air from Antarctica has swept across Uruguay, causing the deaths of at least seven homeless people and forcing authorities to declare a state of emergency.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment