The platform's value amounted to 16.5 billion dollars with a series of investment agreements and became the first Turkish technology firm that obtained the title of Decacorn, which is used to describe companies with a value exceeding 10 billion dollars, Haberturk Daily said.
According to the report, Trendyol's new investment round included several high-profile international investors. Trendyol's current investor Alibaba also invested an additional 350 million dollars in the company earlier this year, according to Haberturk. The Chinese company acquired a stake from Trendyol in 2018.
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