Lately we had been receiving hearsay information that some global ecommerce companies and funds were interested in Hepsiburada.com, the largest ecommerce company in Turkey. Even global ecommerce giant Amazon was among the companies that we heard would be a partner of Hepsiburada.com.
We have sped up researching about this hearsay information, since our credible sources informed us that Hepsiburada is very busy devoting effort for reporting tasks, these days.
The company is also said to be spending long hours due to due diligence run by a large investment bank, and getting ready to come to the table with more than one parties.
We have learned from our sources close to the company that this process is all about the acquisition of Hepsiburada.com. On the contrary, it is the result of the company’s decision to move on with a strategic partner that will transfer big capital to the company.
Hepsiburada is valued at about $1 billion
Hepsiburada has closed year 2011 with 500 million TRY turnovers, and we do not have confirmed information yet, but its valuation is at the level of 1 billion dollar.
We have also heard that there is a probability of an investment covering not only Hepsiburada.com, but also Doğan Online, consisting of all the group companies. If an investment for Doğan Online occurs, the valuation will be at around 1.5 billion dollars, as we have heard.
Amazon is interested in Hepsiburada.com
Though it is not certain yet, we have also sniffed that Amazon is one of the parties that will be coming to table with Hepsiburada.com. But again as our sources close to the company say, funds that are investors of various global giants are a part of this process, except for Amazon.
The process is expected to be finalized within a few months, and it is also said the company will receive a cash input of over 150 million dollars at the end of the process. Another source close to the company says it might be way over 150 million dollars.
For the time being it is not possible to clearly see what’s going on. But what we know for sure is that Hepsiburada.com is in a very busy process of audit and valuation, and that there have been negotiations going on for Hepsiburada or Doğan Online with more than one parties including Amazon.
It might be the beginning of a new period for Turkish internet market
If what is expected happens in 3 to 6 months and Hepsiburada.com or Doğan Online receives an investment at the level of 150-200 million dollars with a valuation of over 1 billion dollars, it will be the beginning of a new period for the internet market in Turkey. The reason is Doğan Group is said that they are not aiming for an acquisition, and it is highly possible that they will be using most of this investment for ecommerce startups and the industry, spending for internet market in Turkey.
I believe that Hepsiburada will create a great value for Turkish internet market in global markets, if it moves on with a strategic and correct partner.
We will continue to dig the story and update you on more news.
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