Welcome to our dedicated page for D-Market Electronic Services & Trading American Depositary Shares news (Ticker: HEPS), a resource for investors and traders seeking the latest updates and insights on D-Market Electronic Services & Trading American Depositary Shares stock.
D-Market Electronic Services & Trading American Depositary Shares (symbol: HEPS), operating under the trade name Hepsiburada, is the largest and fastest-growing e-commerce platform in Turkey and the surrounding region. Established in 2000, Hepsiburada has become a pioneer in the online retail space, offering a comprehensive platform that connects over 63 million members with approximately 230 million stock keeping units across more than 30 product categories.
Hepsiburada operates a hybrid model combining first-party direct sales (1P model) and a third-party marketplace (3P model), collaborating with over 101 thousand merchants. The platform provides an extensive range of products, including mobile phones, cosmetics, FMCG, and fashion items. With over 17 million monthly visitors, Hepsiburada stands as the most visited e-commerce platform in Turkey.
In mid-2015, Hepsiburada launched its marketplace platform, integrating major merchant brands to enhance service and competitive differentiation. The company has demonstrated impressive financial growth, increasing its revenues more than 25-fold over the last decade while maintaining profitability. Hepsiburada also places a strong emphasis on customer experience by offering value-added services such as last-mile delivery, fulfillment services, advertising services, and on-demand grocery delivery through its payment solution, Hepsipay.
Hepsiburada's commitment to social responsibility is evident through its 'Technology Empowerment for Women Entrepreneurs' program launched in 2017, which has supported over 50.5 thousand female entrepreneurs across Turkey. This initiative underscores the company's dedication to leveraging digital capabilities to empower women and drive economic growth.
Recent developments include the appointment of Hakan Karadoğan as the Chief Executive Officer of Logistics, effective March 25, 2024. Karadoğan, with nearly three decades of experience, aims to scale Hepsiburada's logistics operations, enhancing warehousing, fulfillment, and last-mile delivery services. Additionally, the company announced its nine-month results for the 'Trade and Technology Empowerment for the Earthquake Region' program, initiated in March 2023 and expected to last for two years.
For more detailed information, including financial statements and recent updates, investors can access Hepsiburada's filings on the SEC's website or the company's investor relations website.
Hepsiburada (NASDAQ: HEPS) announced the appointment of Nilhan Onal as CEO, effective January 1, 2023, succeeding Murat Emirdag, who will transition to a non-executive board role. Onal brings 25 years of experience, including prior roles at Amazon Europe and Procter & Gamble. Emirdag led Hepsiburada since February 2019, achieving significant growth and developing integrated technology ecosystems. Founder Hanzade Dogan expressed gratitude for Emirdag's leadership and optimism for Onal's impact on the company's future.
Hepsiburada has launched Hepsiburada Premium, the first monthly subscription service in Turkey's e-commerce sector, offering numerous benefits. Subscribers enjoy free delivery on orders over 25₺, 3% cashback through HepsiPay, free assembly for furniture and tires, and a complimentary BluTV subscription. They also receive special brand offers and expedited customer support. This introduction aligns with Hepsiburada's goal to enhance customer experience while positioning itself as a leader in digital commerce in Turkey.
Hepsiburada (NASDAQ: HEPS) has updated shareholders on significant amendments to Turkey's E-commerce Law, approved by the Turkish Parliament on July 1, 2022. The changes aim to create a fairer e-commerce environment by limiting marketing expenditures and banning private label products, effective January 1, 2024. Additionally, businesses exceeding certain transaction values must obtain a license and pay fees based on their net transaction value, starting January 1, 2025. Hepsiburada anticipates these amendments will promote a healthier market and does not foresee limitations on its strategic operations.
D-MARKET Electronic Services & Trading (Hepsiburada) (NASDAQ: HEPS) announced new appointments to its Audit, Risk, and Corporate Governance Committees, following recent changes to the Board of Directors. Effective June 24, 2022, Dr. H. Cem Karakaş and Mr. Ahmet F. Ashaboğlu have joined the Board, replacing Mr. Erol Çamur and Mr. H. Korhan Öz. Additionally, Mr. Cemal Ahmet Bozer stepped down from committee positions due to independent member qualifications. The new Audit Committee members are deemed independent and financially literate under applicable regulations, enhancing corporate governance.
D-MARKET Electronic Services & Trading (Hepsiburada) announced the appointment of Erkin Aydın as CEO of Hepsi Finansal Danışmanlık A.Ş. effective June 1, 2022. This appointment aligns with the company’s strategy to enhance its financial services, particularly following its acquisition of Doruk Finansman, marking Hepsiburada's entry into the consumer finance sector. Aydın brings extensive experience from QNB Finansbank and aims to position Hepsiburada as a leading Fintech player in Turkey.
D-MARKET Electronic Services & Trading (Hepsiburada) announced Q1 2022 results, showing 84.4% GMV growth to TRY 8.3 billion and 82.4% revenue growth to TRY 2,527.9 million, year-over-year. Active customers reached 12 million with a 27.5% increase. However, the company reported a net loss of TRY 239.7 million and a negative EBITDA of TRY 302.9 million, despite improving operational metrics. Free cash flow was also negative at TRY 1,361.9 million. The CEO emphasized ongoing growth amid challenging market conditions.
D-MARKET Electronic Services & Trading (Hepsiburada) will hold its 2021 Annual General Assembly on June 24, 2022, at its headquarters in Istanbul. Key agenda items include the review of the 2021 financial statements, appointment of board members due to resignations, and the approval of the 2022 independent auditor. Shareholders with American Depositary Shares must vote through The Bank of New York Mellon. As of December 2021, Hepsiburada had 41.8 million members and 75,000 active merchants.
Hepsiburada (NASDAQ: HEPS), a top Turkish e-commerce platform, announced the resignation of Board members Erol Çamur and Halil Korhan Öz on May 20, 2022. Dr. Halil Cem Karakaş and Ahmet Fadıl Ashaboğlu will join the Board, pending shareholder approval at the next Annual General Assembly. The changes were expected during the company’s IPO and do not stem from any disagreements. Hepsiburada's Board now comprises four independent members meeting SEC and Nasdaq requirements, enhancing its governance structure. Öz remains CFO.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), will announce its unaudited financial results for the first quarter ending March 31, 2022, on June 1, 2022. The announcement will occur prior to the U.S. market opening. Following the release, the management will host an analyst and investor conference at 16:00 Istanbul time, which will be available via a live webcast. Hepsiburada aims to enhance its e-commerce offerings in Turkey, serving 41.8 million members and 75,000 active merchants as of December 2021.
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