Uber acquires 85% stake in food tech startup Trendyol GO for $700M to expand delivery empire in Türkiye

Uber is making a $700 million bet on Türkiye’s delivery market. The ride-hailing giant said in a securities filing Monday that it’s acquiring an 85% controlling stake in Trendyol GO, the food and grocery arm of Turkish e-commerce heavyweight Trendyol. The deal follows earlier reports that the two companies were in acquisition talks.

The all-cash deal, which still needs regulatory approval, is expected to close in the second half of this year. If approved, it gives Uber a major foothold in a fast-growing market—and a direct line to millions of new customers.

Trendyol GO might not be a household name globally, but it’s a serious player in Türkiye. Backed by Alibaba, Trendyol runs a fleet of 19,000 couriers and partners with 90,000 restaurants. In 2024, the platform handled more than 200 million orders and brought in $2 billion in gross bookings, up 50% from the year before.

Uber, which disclosed the deal in an SEC filing, said the acquisition will help fuel its long-term plans in the region.

“Uber and Trendyol GO coming together will elevate the delivery sector in Türkiye for consumers, couriers, restaurants, and retailers, especially small and family-owned businesses,” Uber CEO Dara Khosrowshahi said in a release. “This deal reflects our long-term commitment to Türkiye, we’re incredibly impressed with what the Trendyol GO team has built, and we’re excited to continue that strong momentum across the country.”

Founded in 2010 by Demet Mutlu, Trendyol Go has become Turkey’s biggest e-commerce player. While the company will retain a minority stake in the GO business, Uber will now call the shots on day-to-day operations.

Its delivery arm, Trendyol Go, handles food and grocery drop-offs and sits under a company that’s 70% owned by Alibaba Group as of 2024. Trendyol isn’t just popular online—it sponsors the Turkish Super Lig, the country’s top football league, and is deeply embedded in everyday consumer life.

The timing is no accident. Uber is set to report first-quarter earnings on Wednesday and is expected to post $11.6 billion in revenue and earnings per share of 51 cents, CNBC reported, citing estimates from StreetAccount.

The move into Türkiye’s growing delivery market comes as Uber tries to keep up momentum in its delivery business globally—and make good on its bet that food and grocery orders will remain sticky post-pandemic.

Uber, for its part, has been leaning hard into its Eats business, which brought in $13.7 billion in revenue last year and now operates in more than 6,000 cities across 45 countries. Adding Trendyol Go to its portfolio would give Uber a turnkey way to reestablish itself in Turkey, with built-in infrastructure and an existing user base ready to go.

Why Now?

Consumer appetite for food delivery in Turkey is climbing fast. The convenience factor is pulling in more users, and the local delivery scene has become one of the more promising markets in the region. That makes it a timely opportunity for Uber, especially as it seeks new footholds after hitting regulatory walls in places like Taiwan, where its bid to acquire Foodpanda fell apart earlier this year.

But there’s still no guarantee this deal crosses the finish line. Talks are ongoing, and any agreement would likely need sign-off from Turkish authorities.

Uber’s Complicated History in Turkey

Uber isn’t exactly starting from scratch in Turkey. It launched there years ago but left in 2019 after a court banned its ride-hailing services, citing violations of local transport rules. The app was pulled, and the company backed out.

Still, the interest never went away. Uber has kept its eye on Turkey’s economy, and this potential buyout would offer a new way in, through delivery rather than ridesharing.

The Competitive Terrain

Turkey’s food delivery market isn’t short on competition. Getir, Yemeksepeti, and Trendyol Go are all fighting for dominance. Trendyol Go has the logistics and brand recognition that make it a tempting target. Uber, meanwhile, is looking for fresh momentum as it tries to grow beyond its traditional markets.

Buying Trendyol Go could give Uber a springboard into more than just food. Trendyol’s grip on e-commerce means Uber would be tying itself to a bigger machine—one with retail reach and delivery scale.