Uber in Talks to Acquire Trendyol Go as It Targets Growth in Turkish Delivery Market
Uber Eyes Turkish Giant Trendyol Go: A High-Stakes Gamble to Reinvent Its Global Delivery Playbook
ISTANBUL — In a move that could redraw the competitive map of global food delivery, Uber Technologies Inc. is deep in negotiations to acquire Trendyol Go, the logistics powerhouse behind Turkey’s dominant e-commerce ecosystem. The deal, still in flux as of April 17, would mark a rare eastward expansion for the San Francisco-based tech giant — and one with high reward, and equally high regulatory, labor, and execution risk.
While the talks remain private and unconfirmed, several individuals familiar with the matter said Uber’s interest in Trendyol Go is more than opportunistic. It’s strategic. Following the collapse of its attempted acquisition of Foodpanda Taiwan, Uber’s pivot toward Turkey suggests a targeted play for markets where it can grow without the regulatory brick walls it has hit in Asia.
“Uber is not just buying a food app — they’re buying a logistics arm fused into the DNA of one of Turkey’s most valuable tech companies,” said a regional analyst based in Dubai. “The real story here is infrastructure and ecosystem, not just market share.”
Beyond the App: A Strategic Infrastructure Grab
At the heart of this acquisition is Trendyol Go, a delivery platform with deep tentacles in Turkey’s densely populated cities. It’s not just delivering burgers — it’s delivering groceries, prescriptions, and everything in between, often within 30 minutes.
Founded as an offshoot of the e-commerce juggernaut Trendyol — which itself is majority-owned by Alibaba and backed by the likes of General Atlantic and SoftBank — Trendyol Go has grown rapidly, aided by the logistical backbone and data-rich environment of its parent company.
Its growth has been aggressive. Discount blitzes, tight app integration with Trendyol’s core platform, and investment in last-mile efficiency have allowed it to seize significant market share in record time. Analysts note that Trendyol Go is increasingly being viewed not just as a delivery business, but as a proof-of-concept for regional logistics digitization.
“You’re essentially acquiring a tech-driven FedEx tailored for emerging markets,” said a European investor familiar with Trendyol’s financials.
The Valuation Leverage: Unlocking a $16.5 Billion Empire
Trendyol itself was last valued at $16.5 billion in 2021. With plans for a dual IPO in Istanbul and a major global market — likely London or New York — a partial or full divestiture of Trendyol Go could be a strategic chess move to realize locked-in capital.
While financial terms remain undisclosed, the implications are clear: A sale could cleanly separate Trendyol’s delivery arm ahead of its public listing, appeasing investors wary of regulatory risks tied to gig labor. For Alibaba, shedding a portion of Trendyol Go may also signal a broader rationalization of its international holdings, following its own internal restructuring.
“Trendyol Go has long been seen as a high-growth, high-burn asset,” noted a Middle East-based fund manager. “Uber may be uniquely positioned to absorb that volatility, which Trendyol can’t carry into an IPO.”
Labor and Regulation: The Hidden Iceberg Beneath the Deal
But the path ahead is strewn with landmines. Both Uber and Trendyol Go operate in a labor environment that has grown increasingly combative. In Turkey, gig workers have staged multiple protests in recent years, demanding formal employment status, higher wages, and improved safety conditions.
Any acquisition would place Uber at the center of an ongoing battle over the definition of employment in the digital economy. Turkish regulators have already scrutinized ride-hailing platforms, and labor ministry insiders are said to be closely watching the deal’s potential impact on the gig workforce.
“Investors should not underestimate the political dimension of this acquisition,” said a legal advisor specializing in Turkish labor law. “This is not California — the rules here are in flux, and the public sentiment is volatile.”
Moreover, Uber’s global brand remains divisive in some markets, and its entry into the Turkish delivery sector could trigger backlash from local unions, regulators, and rival firms alike.
The Competitive Cauldron: Getir, Yemeksepeti, and the Coming Price War
The Turkish delivery market is no sleepy backwater. Rivals like Getir and Yemeksepeti, both heavily capitalized and tech-savvy, are already locked in a bruising battle for dominance. Uber’s arrival — especially through the backdoor of Trendyol Go — will not go unanswered.
Aggressive discounting, subsidized marketing, and delivery fee waivers are expected to intensify. While this may benefit consumers in the short term, it raises questions about long-term margins, especially for Uber, which is still under pressure to demonstrate profitability in its delivery segment.
“The Turkish market is dense, mobile-first, and deal-driven,” said one Istanbul-based strategist. “Uber might win market share, but it’ll be a bloodbath unless they redefine what profitability means in this space.”
Reading the Signal: What This Deal Means for Emerging Market Tech
Beyond Uber’s boardroom, the implications are far-reaching. A successful acquisition would be a bullish signal for Turkish and regional tech startups, many of which have struggled to attract foreign capital in a macroeconomically volatile environment.
It would also validate Turkey as a proving ground for scalable, exportable delivery models. Trendyol’s planned expansion into Gulf markets, backed by a $2 billion war chest, makes this more than just a domestic play. Uber, by extension, could be buying into a springboard for the Middle East and North Africa corridor.
“This deal could change how global investors view the Turkish tech stack,” noted a Gulf-based venture capitalist. “It positions Istanbul as the new Dubai — a tech hub with teeth.”
A Calculated Bet on the Future of Delivery
As of now, no final agreement has been inked, and sources caution that talks could still fall apart. But the alignment of Uber’s post-Taiwan pivot, Trendyol’s IPO ambitions, and investor appetite for regional logistics makes this one of the most consequential deals in emerging markets this year.
For Uber, this is more than another food delivery play. It’s a bet on infrastructure, data, and digital economies in regions often overlooked by Silicon Valley. For Trendyol, it’s a chance to clean up its cap table, reorient for IPO, and focus on becoming the Amazon of the Muslim world.
For investors? It’s time to watch Istanbul.
📊 Key Takeaways for Investors
| Category | Insight |
|---|---|
| Deal Status | In active negotiations as of April 17, 2025. No final agreement. |
| Market Impact | Uber would gain immediate access to a top-three Turkish delivery platform. |
| Valuation Implication | Could unlock significant capital for Trendyol ahead of IPO. |
| Regulatory Risk | High, particularly around gig labor laws in Turkey. |
| Competitive Pressure | Intense; entry likely to ignite discounting war. |
| Strategic Outlook | Uber likely to use Trendyol Go as a regional springboard. |