Alibaba invested another USD 350 million earlier this year to increase its stake in the Turkish firm to 86.5%. Lazada also continued to improve its monetization rate by offering more value-added services that resulted in improving revenue growth. Whats next for its retail divisions? China Commerce Wholesale Business This represents Ant Group share-based awards granted to our employees, which is subject to mark-to-market accounting treatment. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs). Diluted earnings per ADS was RMB9.00 (US$1.31) and diluted earnings per share was RMB1.12 (US$0.16 or HK$1.28). All of these impacts were excluded from our non-GAAP measures of profitability. Net income and Non-GAAP net income Net cash used in investing activities Share-based compensation expense related to Alibaba Group share-based awards decreased in the quarter ended March 31, 2023 compared to the same quarter of 2022. Lin WAN, Director and Chief Executive Officer Business Group Language links are at the top of the page across from the title. Prior to the spin-off, we plan to include external strategic investors in Cloud Intelligence Group through private financings. As an investor in e-Commerce platforms globally, we are excited to partner with Trendyol and look forward to supporting the Companys journey as one of EMEAs emerging digital champions., Great management teams build one-of-a-kind great technology companies said Emmanuel DeSousa, Managing Partner at Princeville Capital. Trendyol Collection Evening & Prom Dress - Green - Shift. FULL FISCAL YEAR SUMMARY FINANCIAL RESULTS Chinese e-commerce firm Alibaba is the majority shareholder in Trendyol. For the quarter ended March 31, 2023, our direct sales and others revenue was RMB71,788 million (US$ 10,453 million), decreasing slightly by 1% year-over-year, mainly due to decrease in offline store sales, which was negatively affected by COVID-19 disruption in January and seasonal volatility from an earlier Chinese New Year, as well as normalizing grocery demand due to decrease in consumer hoarding behavior post-COVID-19. There are 11 options that customers can choose when returning. General and administrative expenses General and administrative expenses in the quarter ended March 31, 2023 were RMB12,832 million (US$1,869 million), or 6% of revenue, compared to RMB7,415 million, or 4% of revenue, in the same quarter of 2022. Trendyol Group is funded by 10 investors. The platform provides logistics, payment, curation, and consignment services. This reclassification conforms to the way that we manage and monitor segment performance. General and administrative expenses General and administrative expenses in fiscal year 2023 were RMB42,183 million (US$6,142 million), or 5% of revenue, compared to RMB31,922 million, or 4% of revenue. Digital Media and Entertainment Alibaba Cloud It was founded in 2007 and is based in Istanbul, Turkey. We announced a new instance family that provides the same level of stability and offers up to 40% cost savings. Trendyol Becomes Turkey's Most Valuable Company with New Investment In the quarter ended March 31, 2023, revenue from our Cloud segment, after inter-segment elimination, was RMB18,582 million (US$2,706 million), a decline of 2% year-over-year. Taking its cue from the latest runway and street-style trends, the brand makes a selection of dresses, tops, bottoms and outerwear that will ensure you always look relevant. Tehran, Tehran, Iran 1001-5000 Seed Private www.digikala.com/ 151,729 Highlights Contacts 117 Employee Profiles 4 Similar Companies 5 Chinas consumption gradually recovered throughout the quarter ended March 31, 2023. We see real potential for the company to accelerate its already substantial growth in the regional and global e-commerce space.. International Commerce Retail Business According to Webrazzi, there are also rumors that the company is planning a new investment tour and aims to increase its valuation to at least $15 billion in the near future. During fiscal year 2022, we recorded a RMB25,141 million impairment of goodwill in relation to Digital media and entertainment segment and a RMB13,046 million reversal of share-based compensation expense related to the mark-to-market adjustment of Ant Group share-based awards granted to our employees. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Judy Wenhong TONG, Director (Partner, Alibaba Partnership) Revenue from our China commerce retail business in fiscal year 2023 was RMB565,332 million (US$82,319 million), a decrease of 2% compared to RMB574,868 million in fiscal year 2022. Propars develops e-export software. You can read more about your. Get the full list, To view Trendyols complete investments history, request access, Morningstar Institutional Equity Research, Maslak Mahallesi Bykdere Caddesi (Spine Plaza) Number 243. Customers can type in search bar for wished products, also can find it in these categories. Adjusted EBITA and adjusted EBITA margin by segments With this new investment, Trendyol increases its valuation to $9.35 billion and becomes the most valuable company in Turkey. With 86.50% of the company's shares, Alibaba is the largest shareholder of Trendyol, which sold 347 million products in 2020 alone. Net income attributable to ordinary shareholders in the quarter ended March 31, 2023 was RMB23,516 million (US$3,424 million), compared to net loss of RMB16,241 million in the same quarter of 2022. Lucy Lei PENG, Director (Partner, Alibaba Partnership) We excluded share-based compensation expense from our non-GAAP measurements. Other shareholders in the business group include strategic investors in the logistics industry and global institutional investors. During fiscal year 2023, Taobao Deals significantly narrowed losses year-over-year, driven by optimized spending in user acquisition. For the twelve months ended March 31, 2023, 62% of Taocaicais annual active consumers were first-time fresh produce buyers on our various platforms. Our Cloud segment revenue is becoming more diversified with revenue contribution from non-Internet industries steadily increasing. Alibaba is committed to improving shareholders return through the implementation of a robust capital allocation framework, said Toby Xu, Chief Financial Officer of Alibaba Group. Revenue in fiscal year 2023 was RMB868,687 million (US$126,491 million), an increase of 2% compared to RMB853,062 million in fiscal year 2022. Innovation Initiatives and Others (ii) Segment adjusted EBITA Trendyol is included in 1 Expert Collection, including E-Commerce. Subject to the transactions, conditions and approvals described above, we target to complete the spin-off in the next 12 months. China Commerce China Commerce We are delighted to share that our board has approved the process to start external financing for Alibaba International Digital Commerce Business Group; exploration of IPO for Cainiao Smart Logistics Group; and execution of IPO for Freshippo. China Commerce Members of the Board - Alibaba Group Digital Media and Entertainment Beginning on October 1, 2022, we reclassified the results of our Instant Supermarket Delivery () business, which was previously reported under China commerce segment, to Local consumer services segment following the strategy refinement of Instant Supermarket Delivery business to focus on building customer mindshare for grocery delivery services through Ele.me platform. The official Trendyol app Advertisement Latest version 7.2.3.715 May 23, 2023 Older versions Advertisement The Turkish king of fashion sales now offers an incredibly complete app that you can use to make thousands of purchases in a fast, convenient and safe way. Trendyol Discount Codes, Coupon Codes & Offers - June 2023 - Couponkirin Claim your profile to get in front of buyers, investors, and analysts. With this new funding, Trendyol becomes Turkeys first decacorn (the term given for start-up companies which have a valuation of over $10 billion). Other income, net in the quarter ended March 31, 2023 was RMB1,308 million (US$191 million), compared to RMB1,620 million in the same quarter of 2022. Woohoobox is an online shopping site that provides apparel, accessories, gifts, and customized products It is based in Istanbul, Turkey. During the quarter ended March 31, 2023, net cash used in financing activities of RMB9,319 million (US$1,357 million) primarily reflected cash used in repurchase of ordinary shares of RMB12,611 million (US$1,836 million), partially offset by net proceeds from bank borrowings of RMB3,294 million (US$480million). Trendyol - Lever Adjusted EBITA increased 60% or RMB9,469 million year-over-year to RMB25,280 million (US$3,681 million) in the quarter ended March 31, 2023, compared to RMB15,811 million in the same quarter of 2022. The company provides news related to health, education, insurance, astrology, spokesperson web TV, science, and technology. Year-over-year revenue growth of our Cloud segment reflected the revenue growth from non-Internet industries driven by solid growth of revenue from financial services, automobile and retail industries, which was partially offset by the decline in revenue from customers in the Internet industry mainly driven by declining revenue from a top customer in the Internet industry phasing out using our overseas cloud services for its international business due to non-product related reasons. 65,99 . Analyst Briefing Submitters are 7x more likely to receive a qualified connection. The company offers a wide range of products such as clothing, furniture, home textiles, cosmetics and electronics, enabling customers to have seamless access to daily use products. Interest and investment income, net in the quarter ended March 31, 2023 was a gain of RMB10,496 million (US$1,528 million), compared to a loss of RMB36,708 million in the quarter ended March 31, 2022, primarily due to net gains arising from the increases in the market prices of our equity investments in publicly-traded companies, compared to net losses from these investments in the same quarter last year, which is generally consistent with the market trend. Submit Your Analyst Briefing Missing: Trendyol 's Product & Differentiators (ii) Segment adjusted EBITA To-Destination 20 Things You Didn't Know About Trendyol - Money Inc (i) Segment revenue In connection with the spin-off, Cloud Intelligence Group intends to become an independent publicly listed company. General Atlantic's website uses cookies to improve and personalize your experience. DingTalk 74,99 . For the quarter ended March 31, 2023, online physical goods GMV on Taobao and Tmall, excluding unpaid orders, declined mid-single-digit year-over-year. Trudy Shan DAI, Director and Chief Executive Officer Customers are allowed to postpone the arrival time or change the arrival address after ordering the product. Trendyol Group Updates on ESG Initiatives Direct sales and others revenue under China commerce retail business in the quarter ended March 31, 2023 was RMB71,788 million (US$10,453 million), decreasing slightly by 1% year-over-year, compared to RMB72,275 million in the same quarter of 2022, mainly due to decrease in offline store sales, which was negatively affected by the COVID-19 disruption in January and seasonal volatility from an earlier Chinese New Year, as well as normalizing grocery demand due to decrease in consumer hoarding behavior post-COVID-19. The Capital Quest | Mubadala, ADQ fund, Silver Lake back Turkey's Getir Revenue from Cainiao, which represents revenue from its domestic and international one-stop-shop logistics services and supply chain management solutions, after inter-segment elimination, was RMB13,619 million (US$1,983 million) in the quarter ended March 31, 2023, an increase of 18% compared to RMB11,582 million in the same quarter of 2022, primarily driven by increasing revenue per order from international fulfillment solution services as well as increasing demand for consumer logistics services. For the quarter ended March 31, 2023, after inter-segment elimination, revenue contribution from non-Internet industries to Cloud segment revenue was 55%. China commerce adjusted EBITA increased by 1% to RMB184,862 million (US$26,918 million) in fiscal year 2023, compared to RMB182,431 million in fiscal year 2022. Digital Media and Entertainment With this new funding, Trendyol becomes Turkeys first Decacorn. The reduced loss from Trendyol is primarily due to revenue growth and enhanced operating efficiency. Following the investment made by Alibaba, Tiger Global, Kleiner Perkins Caufield Byers, and EBRD were withdrawn. Joseph C. TSAI, Director (Executive Vice Chairman, Alibaba Group) The increased loss from Lazada is primarily due to a one-off early termination expense in connection with renegotiating new service contracts to reduce future operating costs, which was partly offset by the continuous improvement in monetization rate by offering more value-added services as well as enhanced operating efficiency. (ii) Segment adjusted EBITA Net cash provided by operating activities was RMB199,752 million (US$29,086 million). Cenk Civici is a Trendyol Tech. Share-based compensation expense as a percentage of revenue increased to 4% in fiscal year 2023, as compared to 3% in fiscal year 2022. Costs and Expenses May 25, 2023. Business. Your email address will not be published. Sozco is an online newspaper-selling company. Trendyol's headquarters is located at Bykdere Caddesi No:243, Istanbul. Trendyol users are allowed to ask the seller questions about the product as well as can view description of a specific product. Daniel Yong ZHANG, Chairman and Chief Executive Officer (Chairman and Chief Executive Officer, Alibaba Group) Win whats next. In addition to Alibaba, the founding partner of the company, Demet Mutlu holds 6.96% of the companys shares while Evren ok owns 5.55%, Begm Tekin owns 0.78%, and Zeki Gl Kaya owns 0.21% of the shares. International Commerce Trendyol also owns a fashion line, Milla, which is a brand created via crowdsourcing. Trendyol is a fashion e-commerce company in Turkey offering members access to fashion brands at members-only prices. The round was co-led by General Atlantic, a leading global growth equity firm, SoftBank Vision Fund 2*, as well as Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority. The committee is chaired by Ms. Irene Lee, and the members are Mr. Albert Ng, Mr. Kabir Misra, Mr. Daniel Zhang and Mr. J. Michael Evans. Non-GAAP diluted earnings per ADS was RMB10.71 (US$1.56), an increase of 35% year-over-year and non-GAAP diluted earnings per share was RMB1.34 (US$0.20 or HK$1.53), an increase of 35% year-over-year. Turkish e-commerce firm Trendyol, backed by Chinese internet giant Alibaba (9988.HK), said on Monday it had entered into agreements to raise $1.5 billion from a number of high-profile investors . Jane Fang JIANG, Director (Group Chief People Officer) Eddie Yongming WU, Chairman (Partner, Alibaba Partnership) Non-GAAP net income was RMB141,379 million (US$20,586 million), an increase of 4% year-over-year. Eddie Yongming WU, Director (Partner, Alibaba Partnership) China commerce adjusted EBITA increased by 19% to RMB38,487 million (US$5,604 million) in the quarter ended March 31, 2023, compared to RMB32,234 million in the same quarter of 2022. During the 2023 DingTalk Spring Summit on April 18, 2023, DingTalk unveiled the integration of intelligent capabilities based on Alibaba's Tongyi Qianwen LLM into its product. During the quarter ended March 31, 2023, Cainiao Post further increased its penetration of door-step parcel delivery service to customers, with door-step delivery parcels increasing by approximately 85% year-over-year. In the past quarter, we helped small and medium enterprises and underdeveloped regions build resilience for better development. (i) Segment revenue Net income attributable to ordinary shareholders was RMB72,509 million (US$10,558 million) and net income was RMB65,573 million (US$9,548 million), showing year-over-year increases of 17% and 39%, respectively, primarily due to the increase in income from operations and the decrease in net losses arising from changes in the fair values of our equity investments, partly offset by the decrease in share of profit of equity method investees and the increase in impairment of investments. Income tax expenses in the quarter ended March 31, 2023 were RMB3,758 million (US$547 million), compared to RMB2,079 million in the same quarter of 2022. The following table sets forth our analysis of share-based compensation expense for the periods indicated by type of share-based awards: Amortization of intangible assets Amortization of intangible assets in the quarter ended March 31, 2023 was RMB2,494 million (US$363 million), a decrease of 12% from RMB2,831 million in the same quarter of 2022. The Turkish fashion sales firm counts the likes of Tiger Global, Kleiner Perkins, and Earlybird Venture Capital as backers. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. From jeans to jackets and tees to knits, there's a fit to flatter everyone. Without the effect of share-based compensation expense, product development expenses as a percentage of revenue would have decreased from 6% in the quarter ended March 31, 2022 to 5% in the quarter ended March 31, 2023. As of March 31, 2023, we had a total of 235,216 employees, compared to 239,740 as of December 31, 2022. Zeming WU, Director (Group Chief Technology Officer) Trendyol - Products, Competitors, Financials, Employees, Headquarters Taocaicai significantly narrowed losses year-over-year, driven by improving overall operating efficiency. During the quarter, AliExpress launched Choice, a new service to global consumers. Excluding the impact of certain items discussed in Full Fiscal Year Other Financial Results Income from operations and operating margin below, income from operations would have increased by RMB24,143 million year-over-year. So, in less than three years, Trendyols valuation has increased by over 20x. International commerce adjusted EBITA was a loss of RMB5,620 million (US$818 million) in fiscal year 2023, compared to a loss of RMB8,991 million in fiscal year 2022. As a PaaS platform, DingTalk will further help customers and ecosystem partners to unlock the potential of AI capabilities. Excluding share-based compensation expense, revaluation and disposal gains/losses of investments, impairment of investments, as well as the deferred tax effects on basis differences arising from our equity method investees, our effective tax rate would have been 17% in the quarter ended March 31, 2023. Startup Continent: The Most Well-Funded Tech Startups In Europe, This SoftBank Group-Backed E-Commerce Giant Raised $1.5B To Expand Globally, Alibaba Group Announces March Quarter and Full Fiscal Year 2023 Results, Lazada is about to become a very lucrative failure, as leaks suggest possible IPO in 2024, Alibabas global online e-commerce arm that includes Lazada weighs US IPO, sources say. We excluded net gains or losses arising from the changes in fair value and impairment of our investments from our non-GAAP measures. Mit unserer groen Auswahl an Kleidung, Schuhen und Accessoires bieten wir angesagte Outfits fr jeden Stil, jeden Anlass und jedes Budget. Dont let your products get skipped. Local Consumer Services Trendyol for Android - Download the APK from Uptodown Chinese e-commerce firm Alibaba is the majority shareholder in Trendyol. Digital media and entertainment adjusted EBITA in fiscal year 2023 was a loss of RMB1,874 million (US$273 million), compared to a loss of RMB4,690 million in fiscal year 2022, primarily due to the narrowing of loss from Youku driven by disciplined investment in content and production capability. Revenue from Local consumer services, which includes To-Home and To-Destination businesses such as Ele.me, Amap and Fliggy, was RMB12,549 million (US$1,827 million) in the quarter ended March 31, 2023, an increase of 17% compared to RMB10,696 million in the same quarter of 2022, primarily due to GMV growth of Ele.me driven by order growth and higher average order value. Without the effect of share-based compensation expense, general and administrative expenses as a percentage of revenue would have remained stable at 5% in the quarter ended March 31, 2023 compared to the quarter ended March 31, 2022. FULL FISCAL YEAR OTHER FINANCIAL RESULTS The increase was primarily due to increases in revenue generated by cross-border related value-added services. Founded in 2010 by Demet Suzan Mutlu,Trendyol started as a shopping site aiming to make fashion accessible for everyone and has grown to become the leading e-commerce platform in the country, serving 30 million shoppers and over 140,000 merchants in the countrydelivering 1 million packages to its customers on a daily basis. )% Reconciliations of GAAP measures to non-GAAP measures presented above are included at the end of this results announcement. (ii) Segment adjusted EBITA The year-over-year increases were primarily due to an increase in China commerce adjusted EBITA, as well as narrowed adjusted EBITA losses of Local consumer services and Digital media and entertainment. In an increasingly complex world, we have proactively transformed our organization to strengthen the competitiveness of our businesses through greater independence to address the evolving needs of different customers and capture new opportunities, said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. All rights reserved. Product Pricing: Recently, Alibaba Cloud has endorsed multiple actions to make computing more accessible and affordable. Cloud (ii) Segment adjusted EBITA In the quarter ended March 31, 2023, 72% of Cainiaos total revenue was generated from external customers. Narrowing of loss from our To-Home business was driven by Ele.mes improved unit economics per order, which was due to increased average order value and reduced delivery cost per order year-over-year. Local Services Group (including Amap, Ele.me and other businesses) Trendyol, an e-commerce platform based in Turkey, has raised $1.5 billion in a massive funding round that values the company at $16.5 billion.General Atlantic, SoftBank Vision Fund 2, Princeville . Trendyol Company Profile, Financial and Strategic SWOT Analysis Get data-driven expert analysis from the CB Insights Intelligence Unit. Increase in revenue contributed by Lazada was the result of continuous improvement in monetization rate by offering more value-added services. Total revenue from our Cloud business, before inter-segment elimination, which includes revenue from services provided to other Alibaba businesses, was RMB24,559 million (US$3,576 million), decrease of 3% compared to RMB25,230 million in the same quarter of 2022. Our board of directors approved a full spin-off of the Cloud Intelligence Group via a stock dividend distribution to our shareholders. It was not immediately clear if the entire USD 1.5 billion would be injected into the company or if some would be used to purchase shares from existing shareholders. Sara Siying YU, Director (Group General Counsel) The funding proceeds will support Trendyols growth both within Turkey and internationally. The year-over-year decrease in share of profit of Ant Group was mainly due to decrease in net investment gains from the investments of Ant Group previously made. Cloud Revenue from Local consumer services was RMB50,112 million (US$7,297 million) in fiscal year 2023, an increase of 12% compared to RMB44,616 million in fiscal year 2022, primarily driven by higher average order value of Ele.me and strong order growth of Amap. The year-over-year decrease in revenue of our Cloud segment reflected delays in delivery of hybrid cloud projects given the COVID-19 resurgence in January and normalization of CDN demand compared to the same period last year, as well as the impact from a top customer phasing out using our overseas cloud services for its international business due to non-product related reasons. Revenue from Cainiao, which represents revenue from its domestic and international one-stop-shop logistics services and supply chain management solutions, after inter-segment elimination, was RMB55,681 million (US$8,108 million) in fiscal year 2023, an increase of 21% compared to RMB46,107 million in fiscal year 2022, primarily contributed by the increase in revenue from domestic consumer logistics services as a result of service model upgrade since late 2021 whereby Cainiao took on more responsibilities throughout the logistics process to better serve customers and enhance customer experience, as well as the increase in revenue from international fulfillment solution services. (ii) Segment adjusted EBITA Direct sales and others revenue under China commerce retail primarily represents our direct sales businesses, comprising mainly Sun Art, Tmall Supermarket, Freshippo, and Alibaba Healths direct sales businesses where revenue and the cost of inventory are recorded on a gross basis. Required fields are marked *. Reach 1000s of buyers who use CB Insights to identify vendors, demo products, and make purchasing decisions. Excluding the impact of an item discussed in March Quarter Other Financial Results Income from operations and operating margin below, income from operations would have increased by RMB11,569 million year-over-year. This represents share-based awards of our subsidiaries. 1 e-commerce platform, has entered into agreements to raise $1.5 billion from a number of high-profile investors, valuing the Company at $16.5 billion. (Bloomberg) -- Turkish e-commerce firm Trendyol, which is backed by Chinese online giant Alibaba Group Holding Ltd., is seeking to raise more than $1 billion in a deal that could make it the. Luyuan FAN, Chairman and Chief Executive Officer Trendyol is the leading e-commerce platform in Turkey, serving 30 million shoppers and over 140,000 merchants in the country. Net cash used in financing activities Trendyol International Reviews | Read Customer Service Reviews of Citi acted as Trendyols exclusive financial advisor and placement agent in the transaction. Users can activate multiple AI capabilities by typing the slash symbol (/), including article creation, meeting notes summary, image generation, DingTalk mini-app building and robot training. Download now and start using! Trendyol: Fashion & Trends on the App Store (3) Local consumer services adjusted EBITA was a loss of RMB14,021 million (US$2,041 million) in fiscal year 2023, compared to a loss of RMB22,092 million in fiscal year 2022, primarily due to the continued narrowing of loss from our To-Home business. Revenue from our Digital media and entertainment segment in the quarter ended March 31, 2023 was RMB8,273 million (US$1,204 million), an increase of 3%, compared to RMB8,005 million in the same quarter of 2022. Trendyol Satc Paneli - Apps on Google Play
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