Chinese e-commerce Alibaba Group Holding Ltd. has acquired a majority stake in Turkish e-commerce platform Trendyol at an enterprise value of at least US$750 million, according to a U.S. media report citing insiders. The deal was announced in late June by Alibaba, but financial details were not disclosed back then. The financial details surfaced today echos Alibaba’s earlier announcement that the deal marks the largest Internet transaction in Turkey to date. The announcement also said Trendyol’s founders would stay on and …

Alibaba Bought Stake In Turkish E-commerce Platform Trendyol At $750M Valuation appeared first on China Money Network.