Uber to buy 85% stake in Turkish food delivery platform for $700 million

Uber will acquire an 85% stake in Turkish food delivery platform Trendyol GO for about $700 million in cash.
The deal is expected to close in the second half of this year and be accretive to Uber's growth, the company said.
Uber will report first-quarter earnings on Wednesday.

will acquire an 85% stake in Turkish food delivery platform Trendyol GO for about $700 million in cash, the company .

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The deal, subject to regulatory approval, is expected to close in the second half of this year. Uber said it expects the transaction to be accretive to its growth once completed.

"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 . "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."

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Founded in 2010, Trendyol GO is run by Turkish e-commerce platform Trendyol, which is majority owned by Chinese titan . The platform hosts roughly 90,000 restaurants and 19,000 couriers across the country.

In 2024, Trendyol GO delivered more than 200 million orders and generated $2 billion in gross bookings, a jump of 50% year over year, Uber said in the securities filing.

The announcement comes as Uber is set to report first-quarter earnings before market open on Wednesday. The ride-share and food delivery company is expected to post earnings per share of 51 cents on revenue of $11.6 billion, according to StreetAccount.