Turkey's Entrepreneurial Ecosystem: More Than Just Start-Ups
ISTANBUL, TURKEY — As if you needed to be convinced that Istanbul is one of the world’s hottest technology start-up scenes, New York private equity firm, General Atlantic, announced on Monday a $44 million stake in Turkish on-line food order platform, Yemeksepeti. It is an investment that follows on from a series of brow-raising commitments made last year. They include a $26 million investment Kleiner Perkins and Tiger Global put into Trendyol, Turkey’s Gilt Groupe and a 70 percent stake that South Africa’s Naspers took on Markafoni, a Turkish private shopping club. Amazon, Intel and eBay also put money in 2011 into respective e-commerce platforms, Ciceksepeti, an on-line flower and chocolate marketer, Grupanya, a Groupon namesake, and GittiGidiyor, an eBay clone.
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