Naspers, a multinational group of media and e-commerce platforms, announced that it has agreed to buy the remaining stocks in Markafoni, the leading flash sales website in Turkey. The South Africa-based company said in a statement that they have decided to take full advantage of the growth of Turkish e-commerce market and Markafoni by acquiring all of the outstanding shares in the company. The value of the deal has not been disclosed.
Napsers also announced that they have appointed Ilker Baydar as the CEO of the company. He is the ex-General Manager of Hepsiburada.com, the number one e-commerce platform in Turkey.
Naspers had the majority stake in Markafoni (about 72%) by a deal signed back in July 2011.
At the same time, Naspers announced the appointment of Ilker Baydar as CEO. Baydar, who resigned from his General Manager position in Hepsiburada.com last month, is expected “to lead Markafoni through the next phase of growth, bringing a wealth of global retail and e-commerce experience.” Baydar is replacing Sina Afra, the co-Founder and outgoing CEO of Markafoni. He’s said to pursue his next entrepreneurial endeavours.
Founded in 2008, Markafoni has quickly grown to be one of the leading e-commerce platforms in Turkey focusing mainşy on fashion. It has also launched vertical online fashion sites like Zizigo.com (online shoes), Enmoda.com (appareal) and Misspera.com (cosmetics and parfumes) and become the first Turkish internet company going global, running online fashion sites in Ukraine (Modnakasta.ua), Poland, Australia, Greece and South Korea.
UPDATE: Sina Afra, the exiting founder and CEO of Markafoni released a short message a few hours after the official acquisition announcement:
Today, Naspers announced to acquire all of the outstanding shares of Markafoni. Naspers originally acquired a majority stake of Markafoni in July 2011 in one of the biggest deals in the Turkish online industry. Now, 3 years later, Naspers decided to take full advantage of the phenomenal growth of the Turkish e-commerce market and leadership position of Markafoni.
Markafoni was founded in 2008 and was the first Turkish internet company going global (Australia, Ukraine, South Korea, Greece and Poland). With all other brands in the group (Zizigo, Enmoda, Misspera), Markafoni became the biggest Online Fashion company in Turkey and MENA.
I’ve lived and breathed Markafoni ever since I co-founded our company in 2008. I will leave Markafoni as of May 31, 2014 and head for new entrepreneurial endeavours. The future looks very exciting.