Uber acquires major stake in Turkish food delivery service for $700 million

In Turkey, Uber announced its plan to acquire an 85% stake in the food delivery platform Trendyol GO for approximately $700 million in cash. This acquisition, which is under regulatory review, is expected to be finalized in the latter half of the year 2025. The deal aims to enhance the delivery services available to consumers, couriers, restaurants, and particularly small and family-owned businesses within the region. Uber's CEO, Dara Khosrowshahi, expressed enthusiasm about this strategic move, highlighting the impressive development of Trendyol GO and their commitment to Turkey's future market growth. Trendyol GO is a well-established name within Turkey's food delivery sector, boasting a network of around 90,000 restaurants and 19,000 couriers across the country. The platform has shown remarkable growth, delivering over 200 million orders in 2024 alone, achieving $2 billion in gross bookings, which represents an impressive 50% increase year over year. This rapid growth underscores the potential benefits that Uber anticipates from the acquisition, indicating a bright future for both companies working in unison. The transaction comes at a crucial time, as Uber prepares to report its first-quarter earnings, with projections showcasing a strong revenue expectation of $11.6 billion and earnings per share of 51 cents. Analysts are keeping a close eye on this acquisition and its implications, as the competitive landscape in the food delivery market intensifies. With this strategic investment in Trendyol GO, Uber aims to solidify its presence and capabilities within the Turkish marketplace, possibly leading to further expansion throughout the region. The acquisition signifies not only a monetary investment but also a strategic alignment between Uber and Trendyol GO, which could reshape the delivery industry in Turkey. Both companies are positioned to leverage one another's strengths to enhance overall service offerings, ultimately benefiting customers and small businesses alike. As the deal progresses through regulatory channels, the implications of this partnership are anticipated to have lasting impacts on the local market dynamics and the broader food delivery landscape.