Published On: Fri, Jul 2nd, 2021

Exclusive: Hepsiburada CEO sets out her vision, as it becomes initial ever Turkish Nasdaq IPO

Hepsiburada — Turkey’s hulk online offered height deliberate a Amazon of a nation — floats on a Nasdaq today, for a valuation expected to surpass $3.9 billion on stream projections, generally with shares being noted adult to $14 each (up from a formerly predicted $12 pricing). Bu this isn’t a finish of a tour for this break-out Turkish tech and e-commerce company, for long-time owner and chairwoman Hanzade Doğan Boyner – who started a business in 1998 no less, and still has altogether control of a association – considers this closer to a enlargement spin of funding, enabling her desirous skeleton to cave Turkey’s fast-developing marketplace even further, as good as expand into Central and Eastern Europe. Doğan Boyner, a scion of a absolute Doğan family in Turkey, continues to reason three-quarters of a voting energy in a company, according to a handbill filed to a SEC.

Hepsiburada’s IPO comes after it some-more than doubled a income during a pandemic, as Turkey’s mostly offline race was forced to switch to online offered in what might well be characterized as a arrange of enforced ‘Great Leap Forward’ for a country. 

Hepsiburada (which translates as “everything is here”) is also creation story as the first-ever Turkish, NASDAQ IPO.

With a vast logistics height widespread opposite Turkey, a association now offers 2hr deliveries, with around 43 million products accessible on a platform, accessible from a some-more Chinese-like ‘super-app’ that can offer all from groceries to flights, to remuneration services, around is ‘Alipay-like’ use called Hepsipay. And in Turkey, many people cite to buy things on installments, a use Hepsiburada has pre-built into a platform.

Turkish people have also enjoyed a frictionless returns, where products can be returned for free, involving a super-efficient logistics network.

After flourishing during about 50% year on year for a final 5 years, a association says it doubled in distance final year, holding advantage of a exponential enlargement in Turkey’s e-commerce invasion into a 82 million-strong population.

The IPO comes after a tiny $100m was invested in a height over a final 20 years, and a profit-making duration until 2018 when Doğan Boyner started investing some-more in a platform, before to this moment.

TC: What brought we to this impulse in time in terms of a IPO?

Doğan Boyner: “Almost 20 years ago we started with e-commerce and from day one we built it with new features, new services, and currently we conduct a entirely integrated ecosystem, from last-mile smoothness to remuneration to groceries. Hepsiburada is a super app that creates a customer’s lives easier. They can get their groceries or their toys for next-day smoothness or moody tickets. Why are we inventory now? Because a Turkish e-commerce marketplace is during 10% penetration, and we trust that a invasion will double by 2025. It’s an rhythm point. It’s a vast market, and as Hepsiburada we are a pioneering height reaching majority towards apropos a open company. With a supports lifted by a IPO, we will accelerate a enlargement and continue to govern a vision.”

TC: “Are we confident with a $3.9 billion valuation?”

Doğan Boyner: “Today’s gratefulness is not unequivocally critical for me. It’s not where we start, it’s where we go. I’m not offered any shares, and this is essentially for enlargement funding. This is usually a beginning. You know, a marketplace is still low penetration, and we have an sparkling tour forward of us. we wish a batch to perform good for my investors, though what a value currently is irrelevant for me.”

TC: “You’re going to use some of this appropriation to supplement on new products onto a height like engagement flights or income transfers and other kinds of new products, what are some of a other kinds of enlargement skeleton we have?”

Doğan Boyner: “One is to continue building a infrastructure, such as frictionless returns, that gives such assent of mind to a consumers. The second is Hepsi Express. It’s still usually during 4% penetration. This will change a consumer’s grocery offered robe since we have such a clever indication where we partner with a lot of inhabitant chains, informal chains, Mom-and-Pop shops, so we spin those stores into a ‘dark stores’. Plus we infrequently do a possess picking from a stores or infrequently a tradesman does a picking. So a patron charity is unequivocally strong. You can get something in half an hour, or we can report it for subsequent day, whenever we want. You can do a weekly shopping, or usually get something for that night. Express is an area that we will scale. Payment is another focus. We are a usually height with a payments license. Soon it will be an open wallet and a Fintech capabilities will boost post IPO.”

TC: Are we following a arrange of Alibaba / Alipay strategy?

Doğan Boyner: “We will precedence a stream business and marketplace, and we will spin them into a wallet customers. Super apps don’t unequivocally exist in Europe or a US. So it’s a prophesy to digitalize commerce. We are in a customer’s pocket. We wish to make life easier for them.”

TC: “How did we change operations during a pandemic?”

Doğan Boyner: “We roughly became a lifeline, not usually for consumers though for a merchants as well. So we rose to a arise to not usually scale operationally. We had to onboard 1000s of drivers and employees, very, unequivocally fast, though we also had to secure a contentment of a employees. While all of us were isolating we had to ask a employees to work, which, that we consider we’ve finished a very, unequivocally good pursuit of, in terms of providing PPE, and providing health coverage. It was a possibility to live adult to a values. Our consumers experimented with us as new consumers, and they’re happy with a use so they will stay with us and a merchants appreciated us as well, since in a time when their shops were closed, they could beget revenues by us.”

TC: You’ve been a large disciple of women in your association and also in your country, you’ve combined many programs for women and girls and intent in a good understanding of advocacy. Where do we feel we are on that journey?

Doğan Boyner: “Half distant a workforce is female, 33% of a supervision is womanlike – that should be 50%! Our lady businessman module has been unequivocally impactful. We tell women entrepreneurs to come, we will learn we ecommerce, we will onboard your products, we will give we giveaway shipping, we will prioritize your products or inventory pages, we will give we genuine estate on a home page. Some 19,000 women have benefitted from this. Women have sent me their moving stories. They start tiny and sinecure dual people, and afterwards they emanate their possess brands. Having pronounced that, when we demeanour during where we are in terms of gender equivalence globally, a needle doesn’t pierce much. You demeanour during a series of CEOs in a FTSE 500, a series doesn’t change. So, we will keep doing whatever we can, since each ‘small drop’ counts. And hopefully, it will. we also consider there should be a new conversation, a tellurian review about gender equivalence in general. The 19,000 women who benefited from a module became economically some-more empowered. They gained skills and collection and certainty to trade on a height like Hepsiburada, that is unequivocally meaningful.”

TC: Are we endangered that maybe your success might attract a courtesy of supervision law in Turkey, in a future?

Doğan Boyner: “We are deliberate a inhabitant champion. Turkey has opposite dynamics. we consider it’s an impulse that inhabitant champions can come out and be successful.”

TC: You’ve been unequivocally hugely successful, you’re a large disciple for women in your country, do we have any domestic aspirations?

Doğan Boyner: “No.”

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