BY KERIM ULKER
Hanzade Dogan Boyner has become the sole owner of the e-commerce platform hepsiburada.com, through an IPO at Nasdaq on May 28.
Hepsiburada, of which estimated value to reach USD 1bn, has a long acquisition journey. The Dubai-based private equity fund Abraaj Capital acquired 25% share in Hepsiburada owned by the Dogan Family in 2015. The valuation of the online shopping platform was carried out at USD 400m in that period.
The Dogan Family and Abraaj, owners of Hepsiburada.com put the platform’s sale on the agenda in 2017. Goldman Sachs was authorized for sales process, which couldn’t be finalized. Due to some hitches, the Dubai-based fund had to transfer its shares to the U.S.-based asset management company Franklin Templeton. Accordingly, the company started to manage 25% of Hepsiburada’s shares through its subsidiary Turkcommerce BV.
This year, Hepsiburada applied the U.S. Securities and Exchange Commission in order to list its shares in Nasdaq on May 28. The platform hired Morgan Stanley, JP Morgan, Bank of America Securities, UBS Investment Bank and Goldman Sachs to arrange the deal.
As a result of Initial Public Offering, Hanzade Dogan Boyner, a member of the Dogan Family, has become the sole owner of hepsiburada.com. The U.S.-based Templeton sold its 25% stake to Hanzade Dogan Boyner and withdrew from investment while the Dogan Family transferred its shares to Hanzade Dogan Boyner.
Celebrating the 21st anniversary this year, Hepsiburada has 33 million members and 9 million active customers.
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