Turkish EC major company applied for listing on US NASDAQ.
On May 28th, Turkish EC major "Hepsiburada.com" submitted a report to the US Securities and Exchange Commission, and applied for a new listing on the US NASDAQ. Hepsibrada means "it is possible to find anything necessary here" in Turkish. The company was founded in 1998, and was selected as "Turkey's most popular EC site" for 2 consecutive years from 2011 to 2012. Currently, following "Trendyol" invested by the major Chinese EC "Alibaba Group," and Hepsibrada is ranked 2nd in the EC business. According to a report submitted by Hepsibrada, the company's sales are growing rapidly because of the COVID-19. However, the cost to purchase inventory increased to secure product supply during the lockdown period, and the total profit for the first quarter of 2021 resulted as a loss.
Source: Pymnts.com "Turkish EC Platform Hepsiburada Seeks Nasdaq IPO" (May 31, 2021)
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