Filing: Uber acquires an 85% stake in Turkish food delivery platform Trendyol GO for ~$700M cash, set to close in H2 2025; Trendyol GO had 200M+ orders in 2024
Annie Palmer / CNBC :
Context & Ripple Effects
Uber’s Trendyol GO transaction followed its planned $950M Foodpanda acquisition in Taiwan, extending a pattern of buying established delivery operations rather than building market share from scratch. Trendyol GO’s more than 200 million 2024 orders make the Turkish asset a meaningful operating platform, not a small foothold.
Later coverage of Uber’s agreement to acquire Getir’s delivery operations shows that Turkey remained central to this acquisition-led approach, with Uber pursuing both a controlling stake in Trendyol GO and additional delivery assets.
First-order effects
- Uber gains an 85% economic stake in Trendyol GO for about $700M in cash, subject to the planned second-half 2025 close; Trendyol GO’s existing order base becomes the immediate core of Uber’s Turkish delivery presence.
- Trendyol GO retains a minority owner while Uber takes control, creating a need to align the platform’s operations and strategy with Uber’s delivery business.
Second-order effects
- Turkish delivery rivals face a better-capitalized competitor with an established local platform, increasing pressure to defend merchant, courier, and customer relationships.
- The deal makes follow-on consolidation more consequential: Uber’s later approved Getir delivery-business purchase adds another route to scale in the same market rather than a standalone expansion.
Third-order effects
- If this acquisition pattern persists, food delivery is likely to become more concentrated around global platforms purchasing local scale, while minority stakes and carve-outs offer sellers alternatives to full exits.
- Turkey’s approvals and investment conditions around Uber’s subsequent Getir transaction suggest that market access for large delivery acquisitions may increasingly be tied to local regulatory commitments.
The trend: Uber is pursuing delivery growth through acquisitions of scaled local platforms, accelerating consolidation in markets where organic expansion is costly.