We have learned that founders of GittiGidiyor, Burak Divanlioglu and Serkan Borancili have made an investment in Pabbuc.com, online shopping website for shoes, bags and accessories that is one of the eTohum initiatives and became partners. The initiative will continue to serve under the company established after the investment is made with the name Pabbuc Electronic Services and Trade. Inc. Burak Buyukdemir has shares of the initiative as well as Serkan Borancili and Burak Divanlioglu.
The company, registered to Istanbul Chamber of Commerce, was founded with a capital of 160.000 TRY. Commercial Registry Gazette gives information on the share distribution.
A while ago Amazon.com acquired Zappos.com and this news made us look at Pabbuc.com, the leading initiative in Turkey in this field. While wondering which developments the partners would go for after eBay partnership with GittiGidiyor, I can say that investing in Pabbuc.com is a wise move.
Burak Divanlioglu and Serkan Borancili have 20 percent shares each and are board members of the company.
The outstanding shareholder of this investment is surely Goril Informatics Publishing Retailing and Foreign Trade Inc. founded by Burak Buyukdemir. The company holds 4.20% shares in the newly founded Pabbuc Electronic Services and Trade Inc. and we can see that Burak Buyukdemir slowly finds investors for eTohum initiatives. I’m very glad to see that Burak is taking action in eTohum process which he is working devotedly with great effort and creating value for both himself and his initiatives.
Here, the capital of the company of 160.000 TRY does not reflect Pabbuc.com’s valuation of course. I guess that Serdar Yaman, founder of the service, has been made an additional payment other than the number that has been invested in the company. We do not have clear information on the number of the acquisition but we will be sharing any details with you if we get any.
When we consider Pabbuc.com’s position in the market and the experienced team making investment, one should put that it is a very important development for the sector. We’ll wait and see if this move will get Amazon into Turkey as GittiGidiyor got eBay into Turkish market.