Invest News Detail
Hurriyet - The Seattle-based e-commerce giant Amazon has entered the Turkish market by acquiring stakes in the online flower delivery company Ciceksepeti.com. The world’s largest e-retailer’s minority partnership in Ciceksepeti.com will help the Turkish start-up grow its giftware business.
“Amazon’s lead in technology and online marketing will be beneficial for our growth in 2012,” said Ciceksepeti.com General Manager Emre Aydin on the partnership deal, without disclosing the financial details. “Cash injection aside, technology transfer and know-how will contribute significantly to our operations,” he added. Ciceksepeti.com aims to become the number-one choice in online flower and gift retailing.
Stakes in Turkish internet companies proved popular among foreign investors in 2011, as the country’s e-commerce volume reached USD 10.5 billion in the first 11 months of 2011. Various Turkish e-commerce sites, including private shopping clubs, group shopping markets, and blog/media service providers, signed partnership deals or agreed to sell stakes to foreign investors.