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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) has launched the "Women's Cooperatives: Stronger with E-Commerce in the Pandemic" project in collaboration with the ILO, I4D, and U.S. State Department. This initiative aims to enhance the digital and business skills of over 100 women from 5 cooperatives impacted by the pandemic. Participants will receive training, mentoring, and support including commission discounts and marketing assistance. Hepsiburada has previously supported 24,000 female entrepreneurs since 2017, increasing the proportion of female-led vendors on its platform from 6% to 23%.
Hepsipay, the digital wallet of Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS), has introduced a 'Buy Now Pay Later' feature, marking a first for e-commerce in Turkey. This option allows users to defer payments for purchases made through the Hepsipay Wallet for one month. The payment limit is calculated based on individual shopping history. The feature is currently exclusive to products sold by Hepsiburada, with plans for potential expansion to other merchants. This initiative aims to enhance customer experience and demonstrate Hepsiburada's commitment to digital commerce in Turkey.
Confluent, Inc. (NASDAQ: CFLT) recently launched its Q1 ‘22 updates, enhancing its data streaming platform with over 50 new managed connectors, improved scalability controls, and Schema Linking capabilities. These features aim to simplify real-time data management, allowing organizations to modernize applications and optimize costs effectively. The updates cater to businesses’ growing need for real-time data integration, ensuring trusted data quality across cloud and hybrid environments. Key clients like Hepsiburada highlighted the operational simplicity and cost efficiency gained from these innovations.
Hepsiburada (NASDAQ: HEPS) and Intel (NASDAQ: INTC) have launched DigitalSME, a program aimed at supporting small and medium-size enterprises (SMEs) in Turkey. This initiative seeks to enhance e-commerce capabilities and digital transformation for SMEs by providing training, discounts on Intel products, and grants for HepsiAd, Hepsiburada's advertising platform. The program offers a 10% discount on Intel products and TRY 1,000 grants, along with training focused on enhancing online presence. This collaboration aims to boost the digital economy by empowering SMEs to reach broader markets.
Hepsipay, the digital wallet of Hepsiburada (NASDAQ: HEPS), has partnered with Istanbul Metropolitan Municipality's Istanbulkart to facilitate shopping for around 20 million Istanbulkart users on the Hepsiburada platform. This development allows users to utilize their Istanbulkart balance for purchases, broadening access to e-commerce in Turkey. The service will be operational by Q1 2022, enhancing customer experience and appealing to those without traditional banking services. The collaboration is part of Hepsiburada's goal to lead e-commerce digitalization in Turkey.
Hepsiburada's digital wallet, HepsiPay, has entered a strategic partnership with Paycell, the fintech arm of Turkcell. This agreement allows Turkcell customers to make purchases on Hepsiburada without a bank card, utilizing a new direct carrier billing feature. Starting December, this innovation aims to attract Turkey's significant unbanked population, expanding Hepsiburada's market reach. HepsiPay aims to enhance the shopping experience and increase accessibility, while Paycell has reached six million active users offering alternative payment methods, reflecting the growing demand in e-commerce.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), reported its Q3 2021 financial results, showcasing a 49.8% increase in Gross Merchandise Value (GMV), reaching TRY 6.5 billion. Despite the remarkable GMV growth, revenue slightly decreased by 0.8% year-over-year to TRY 1,658.3 million. The company faced significant net losses of TRY 778.4 million, attributed to higher customer discounts and intensified competition. Active customers rose 26.1% to 10.7 million, reflecting continued engagement. Management remains optimistic, projecting around TRY 24 billion GMV for 2021.
Hepsiburada is expanding its collaboration with Google Cloud to enhance its IT infrastructure, supporting its growth in the e-commerce sector in Turkey. This partnership aims to improve customer experiences by scaling operations and leveraging advanced analytics and machine learning capabilities from Google. Hepsiburada will enhance its product offerings beyond 44 million SKUs while utilizing Google Cloud's Big Query for better data-driven decision-making. This collaboration aligns with Hepsiburada's digital transformation goals since its recent IPO on NASDAQ: HEPS.
Hepsiburada (NASDAQ: HEPS) has updated its 2021 outlook, citing challenges in the third quarter due to a slowed market growth rate and increased competition. As COVID-19 restrictions ended, online spending growth fell significantly. Hepsiburada's Q3 GMV is estimated at ~TRY 6.45 billion with revenue around ~TRY 1.64 billion, lower than previously expected. The full-year GMV forecast has been revised down to approximately TRY 24 billion, down from an earlier range of TRY 28 billion to TRY 29 billion. The company plans to enhance cash flow and manage marketing expenses more effectively.
Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has launched Managed Partner Ads, a new advertising platform in collaboration with Facebook. This initiative aims to empower small and mid-size enterprises (SMEs) to enhance their online visibility and sales by facilitating targeted ads on Facebook and Instagram. The platform is designed to increase web traffic by tenfold and potentially triple sales for participating SMEs. The user-friendly sign-up process allows businesses to easily manage their advertising campaigns, aligning with Hepsiburada's commitment to driving digital commerce in Turkey.
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