by Arda Kutsal on May 23, 2011
As you all know one of the most important acquisitions on Turkey’s internet market was done last week. One of the largest etrading companies, eBay, has bought 93% of GittiGidiyor, which it was minority shareholder of since 2007.
As you must have realized, we did not give any info on the sales figures when we first shared the news. But we can give the real value figure of GittiGidiyor as of today, and I’m sure you have been waiting for it.
First let me explain why we did not share this information with you before.
As you know Webrazzi is the most reliable site on titles including flash news, acquisitions and investments in Turkish internet market. It is even the same for global media, internet and investment companies. We owe this high credibility to the fact that we have been sharing news with you after filtering all the information very sensitively for nearly 5 years.
We had acquired various and very different figures on the news of eBay buying GittiGidiyor. In fact, we had got those figures before the acquisition was done. However, we did not share those figures with you then, as we did not want to do any harm to the process of acquisition, as we could not have those figures confirmed.
After we posted the news on Webrazzi, some of our readers, even some media and major companies have contacted Webrazzi and me in person to learn the real sales figures, so we started to review those figures, trying harder than ever to confirm them via our sources.
GittiGidiyor’s value is 215 million dollars!
Upon considering many information and figures that we received from sources that are close to the companies in the acquisition process, we have clarified that the valuation for GittiGidiyor that was done in the process of acquisition by eBay has been 215 million dollars.
I have contacted GittiGidiyor to have this figure confirmed, but they have underlined that they could not make a comment on this. I understand this, as this process in still ongoing and it is not possible for them to give a number.
As a result, we can now easily say that the figure which GittiGidiyor partners have mentioned as “more than 200 million dollars” in an interview to Habertürk on Sunday, is in fact 215 million dollars..
Hopefully this information will be of value for those who wanted to be informed and the valuations that will be done after that in Turkey’s internet market.
Original Post: GittiGidiyor’un Değeri: 215 Milyon Dolar