HANGZHOU, Aug. 15 (Xinhua) -- China's e-commerce giant Alibaba group has acquired a stake of its Turkish counterpart Trendyol, according to sources with Alibaba.
The investment in the leading Turkish e-commerce platform is part of Alibaba's bid to expand global business, the sources said. The pair is expected to create opportunities in reforms of e-commerce, digital payments and the retail value chain for Turkey.
Alibaba did not disclose the size of the deal.
Trendyol, which focuses on online fashion retail, was founded in 2010. It is a fast-growing mobile e-commerce platform in the Middle East and North Africa.
Sri Lanka to ink agreement with China's Alibaba to attract more tourists
Starbucks joins hands with Alibaba to launch food delivery service
Alibaba and Xiaomi get official licenses for providing teleservices
Sunning Sports raised $600 million in A-round financing
Machine-human communication to be everywhere in future, says Alibaba DAMO Academy
Alibaba invests RMB 15 billion in Focus Media
Alibaba, Siemens to promote industrial IoT platform
Alibaba releases a new large-scale visual computing platform
