Hepsiburada Ecommerce Platform Seeks Nasdaq IPO
D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi (in English, D-MARKET Electronic Services & Trading), the company behind Turkey’s leading e-commerce player Hepsiburada.com, filed for publication in the United States Nasdaq exchange.
the recording was filed Friday (May 28) with the federal government Security and Trade Commission (SECOND). The company seeks to sell American Depository Shares (ADS) on the Nasdaq corresponding to the class B shares of D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi shares.
“Hepsidurada” means “You can find anything you want here”, founder and president of the company Hanzade Doğan written in the SEC filing. The company said it was Turkey’s second largest eTailer.
“I founded Hepsiburada with the vision of creating the gateway for the digitization of commerce in Turkey, from purchases to payments to last mile delivery,” Doğan wrote. “Throughout our 20 year history, we have developed Hepsiburada with the belief that digitization will improve commerce by connecting every household and every trader in Turkey. And by offering the widest range of products to our customers while setting the standard for affordability, affordability and convenience. “
She added in the file: “We offer next day delivery to all corners of Turkey and make all goods and services accessible to every customer. With our long tail selection and extensive catalog of over 44 million SKUs, our customers can find everything they need right at their fingertips.
She wrote, echoing the language used to describe Amazon: “Hepsiburada is basically a technology company. We are constantly innovating and introducing new services, from payment tools to agile and scalable last mile delivery infrastructure. “
The company noted in the SEC filing that the pandemic had spurred growth, but also conceded, “We recorded negative free cash flow in the three months ended March 31, 2021, due to purchases of stocks higher than usual, in order to be able to guarantee the supply COVID-19 containment period in the second quarter of 2021. “
According to Johns Hopkins University COVID-19 Tracker, Turkey has lost 47,405 people to COVID-19 in 5.2 million cases. The tracker further said 15 percent of the population had been fully vaccinated.