Turkey’s leading food ordering platform Yemeksepeti announced that it was purchased by Delivery Hero for $589M. This is the largest exit to date in Turkey’s internet sector. Before this, GittiGidiyor’s sale to eBay for $217M in 2011 was the largest exit. As discussed at the recent Startup Turkey conference, at this rate it’s only a matter of time before Turkey produces its first unicorn.
Many investors claim that exits are challenging to achieve in emerging internet markets like Turkey. I don’t agree. As Yemeksepeti shows, great companies achieve great exits no matter where they’re located.
The announcement is also a testament to the tremendous success of the company’s founders Nevzat Aydin and Melih Odemis, and the investors that backed them. I congratulate everyone who contributed to Yemeksepeti’s success, and wish all the best to those that will remain as part of Delivery Hero.