A friend recently asked me if there are any startups in Turkey that I regret not having invested in. We’ve been fortunate to invest in all but one of the companies we wanted to since launching Aslanoba Capital in June 2013.
The one opportunity we missed is Onedio. Onedio, the BuzzFeed of Turkey, was already one of the top 100 internet websites in Turkey when we looked into the company in the summer of 2013. Although we were very impressed with the founder Kaan Kayabali, his team, and the company’s performance, we arrived too late to the table. By the time we decided to invest Onedio had already decided to take money from Revo Capital.
We’re close with the Revo team and think that they make great partners for Onedio. They’ve been particularly valuable in helping Onedio convince advertisers to perform native advertising campaigns on the Onedio platform. Onedio has also been a great investment for Revo as the company has grown to become one of the top ten most trafficked properties in Turkey.
This is why Revo decided to make a follow on investment in Onedio four months ago. We didn’t participate due to a difference in valuation expectations in what otherwise continues to be a great business.
Fortunately, we’re a Limited Partner in Revo and this gives us some exposure to Onedio. Some opportunities aren’t fully missed. We look forward to following Onedio’s success in the future.