Alibaba extends its e-commerce empire to Turkey
Alibaba group is keeping high pace into investing in and out of China. Last in line , Turkish B2C mobile e-commerce platform Trendyol , founded in 2010 and having 16 millions active customers for over 2000 registered sellers. Now valuated at 750M USD, that transaction is also the biggest financial deal in Turkish internet industry ever. Very well located on the new silk road (aka OBOR policy strongly supported by Chinese government), Turkish e-commerce market is very promising with a tech savvy population but only 3,5% of purchase made online, this explains easy why local e-commerce market has seen growth in value of 35% in 2017.
After making acquisitions or buying stake in South East Asia (Lazada), India (BigBasket), then Pakistan (Daraz), and now Turkey Alibaba has built a direct corridor to access Europe market. And the beast looks still hungry, so I wonder which European-based targets are now assessing Alibaba investment team. Since their logistics HQ is being built in Liege, Belgium to operate from 2020, I’m sure the shopping spree will invade Europe soon. Let’s get ready to witness Jack Ma’s vision come true right in front of our eyes !