In a capital increase, the Turkish e-commerce platform Trendyol receives an additional investment of USD 330 million from its partner Alibaba Group.
With this injection, Chinese e-commerce giant Alibaba's share in Trendyol raised to 86.5 percent. Alibaba has made its initial investment in Trendyol in 2018.
Trendyol's valuation reached USD 11 billion with this investment.
Turkey's e-commerce volume was USD 32 billion in 2020 rising 66 percent y-o-y.