Hepsiburada

Hepsiburada is a Turkish digital commerce platform headquartered in Istanbul and operating principally in Turkey. Its name derives from the Turkish phrase “hepsi burada,” meaning approximately “everything is here.” The business began operations in 2000 under Doğan Online as a direct-selling internet retailer. In its original model, Hepsiburada purchased and held inventory and sold products directly to consumers. It later broadened its role from online retailer to marketplace operator, allowing independent merchants and brands to establish stores, list products, and fulfill orders to customers. A major transformation took place in 2015, when Hepsiburada redesigned its business model after gathering feedback from roughly six million people. The company introduced a marketplace structure in which outside sellers could open stores and sell directly to end users, while Hepsiburada continued to operate selected first-party retail activities. This hybrid model combined inventory-based retail with third-party marketplace services and became the foundation for the company’s subsequent expansion. Hepsiburada offers products across approximately 30 categories, including electronics, fashion, home and living, lifestyle goods, stationery, and office products. Its broader ecosystem includes logistics, payments, grocery and rapid delivery, loyalty, and cross-border commerce services. HepsiJet provides transportation and delivery services across Turkey, while HepsiLojistik offers warehousing, inventory handling, addressing, packaging, shipping, invoicing, delivery, and returns for Hepsiburada merchants and sellers using other e-commerce channels. HepsiPay provides digital-wallet, prepaid-card, and payment-gateway capabilities. Hepsiburada Market delivers grocery and other everyday items, and Hepsiburada Premium is a paid membership and loyalty program. Hepsiburada Global supports international sales by the platform and its merchants. The company has also pursued programs intended to connect local producers and women entrepreneurs with digital commerce. Its Technology Power for Women Entrepreneurs program, launched in 2017, has supported the participation of women entrepreneurs, women’s cooperatives, and civil-society organizations on the marketplace. The HepsiTürkiye’den program promotes locally produced and geographically marked products and has included cooperation with the Turkish Patent and Trademark Office. Hepsiburada became the first Turkish company to list on the Nasdaq Stock Market when its American depositary shares began trading on July 1, 2021. The listing gave the company access to international capital markets while it continued to operate as a Turkey-focused commerce platform. In 2022, it signed the United Nations Global Compact and supported the establishment of an E-Commerce Competence Center at TÜBİTAK-BİLGEM’s Artificial Intelligence Institute. It also introduced Smart by MIMEX, described as a smart, cashless store using a “buy and check out” concept, and later launched Hepsiburada Premium. Hanzade Doğan is the company’s founder and chairwoman of the board. Nilhan Onal Gökçetekin became chief executive officer in January 2023, succeeding Murat Emirdağ. In 2023, Hepsiburada reported 12 million active customers and 101,500 active merchants. Its reported 2023 gross sales volume was TRY 96.5 billion before inflation adjustment and TRY 116.5 billion after adjustment, compared with TRY 47.3 billion in 2022. These figures are company-reported financial measures and should be read in the context of Turkey’s high-inflation environment. In January 2025, Kaspi.kz completed the acquisition of a controlling stake in Hepsiburada, changing the company’s ownership structure while leaving the Hepsiburada platform active.

Hepsiburada began operating in 2000 under Doğan Online as a direct-selling e-commerce retailer. The company initially managed its own inventory and sold products directly to consumers through its website. This first-party model made it one of the early large-scale online retail businesses in Turkey and established the Hepsiburada name in the country’s developing internet economy. In 2006, the company was recognized as the fastest-growing e-commerce site in the Deloitte Technology Fast 50 survey. The recognition reflected the growth of online shopping and Hepsiburada’s role in expanding the Turkish digital retail market. During its early years, the company’s business was centered on merchandising, inventory ownership, online ordering, and direct fulfillment. Hepsiburada undertook a major business-model renewal in 2015. Drawing on feedback from approximately six million individuals, it launched a marketplace model that allowed companies and individual merchants to open stores and market their own products. Sellers could list goods and deliver them directly to end users, while Hepsiburada provided the digital marketplace infrastructure. The company retained first-party sales, creating a hybrid structure that combined direct retail with third-party marketplace operations. The platform broadened beyond product listings and transaction processing. In 2016, it launched HepsiPay, a wholly owned fintech venture intended to facilitate online payments. In 2017, it established the Technology Power for Women Entrepreneurs program, which connected women entrepreneurs, women’s cooperatives, and civil-society organizations with the marketplace. This initiative became one of the company’s longer-running efforts to support participation by smaller and local businesses. Hepsiburada expanded its operational ecosystem through services such as HepsiJet, a delivery company operating across Turkey’s provinces, and HepsiLojistik, which provides storage, packaging, shipping, invoicing, delivery, and returns services. It also developed Hepsiburada Market for grocery and everyday-item delivery and Hepsiburada Global to support international sales by the platform and its merchants. In 2021, Hepsiburada became the first Turkish company to list on Nasdaq. Its shares began trading in the United States on July 1. During the same period, the company introduced HepsiTürkiye’den, a program designed to bring locally produced and geographically marked Turkish products to consumers throughout the country. In 2022, the program was linked to cooperation with the Turkish Patent and Trademark Office to promote awareness and commercialization of geographically marked goods. Hepsiburada also increased its emphasis on technology, sustainability, and new retail formats. It signed the United Nations Global Compact in 2022 and supported the creation of an E-Commerce Competence Center at TÜBİTAK-BİLGEM’s Artificial Intelligence Institute. In the same year, it launched Smart by MIMEX, described as Turkey’s first smart and cashless store using a “buy and check out” concept. In January 2023, Nilhan Onal Gökçetekin became chief executive, replacing Murat Emirdağ, who had held the role since 2019. Later in 2023, Hepsiburada launched Hepsiburada Premium, a paid membership program intended to strengthen customer loyalty. The company also became the main sponsor of Turkey’s men’s and women’s national basketball teams under a two-year agreement announced in June. Hepsiburada’s 2023 financial report stated that the platform had 12 million active customers and 101,500 active merchants. It reported total sales volume of TRY 96.5 billion before inflation adjustment and TRY 116.5 billion after adjustment, compared with TRY 47.3 billion in 2022. These are reported sales-volume figures rather than necessarily equivalent measures of recognized revenue. In January 2025, Kaspi.kz completed the acquisition of a controlling stake in Hepsiburada. The transaction placed the Turkish platform within Kaspi.kz’s broader digital-commerce and financial-services group while Hepsiburada continued operating under its established brand.

• 2025

  Kaspi.kz acquires controlling stake

  [1]Hepsiburadaen.wikipedia.org

  Kaspi.kz completes the acquisition of a controlling stake in Hepsiburada.

• 2023

  Hepsiburada Premium introduced

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada launches a paid membership and loyalty program in Turkey.

• 2022

  United Nations Global Compact and technology initiatives

  [1]Hepsiburadaen.wikipedia.org

  The company signs the United Nations Global Compact, supports an e-commerce competence center at TÜBİTAK-BİLGEM, and launches Smart by MIMEX.

• 2021

  Nasdaq listing

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada becomes the first Turkish company to list on Nasdaq, with trading beginning on July 1.

• 2017

  Women entrepreneurs program established

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada begins its Technology Power for Women Entrepreneurs program to connect women-led businesses and related organizations with online commerce.

• 2016

  HepsiPay launched

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada launches its wholly owned online-payments venture, HepsiPay.

• 2015

  Marketplace model introduced

  [1]Hepsiburadaen.wikipedia.org

  The company allows merchants and companies to open stores and sell directly to consumers, adding marketplace operations to its first-party retail business.

• 2006

  Recognition in Deloitte Technology Fast 50

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada is recognized as the fastest-growing e-commerce site in the Deloitte Technology Fast 50 survey.

• 2000

  Operations begin under Doğan Online

  [1]Hepsiburadaen.wikipedia.org

  Hepsiburada commences operations as a direct-selling online retailer.

A broad Turkish e-commerce ecosystem combining first-party retail, third-party marketplace services, logistics, payments, grocery delivery, loyalty, and cross-border commerce.

• E-commerce marketplace · 2015

  Hepsiburada Marketplace

  The core Hepsiburada platform combines first-party retail with third-party marketplace operations. Merchants and brands can open stores, list products, reach Turkish consumers, and use associated payment, fulfillment, delivery, and returns services. The assortment covers electronics, fashion, home, lifestyle, stationery, office products, and other consumer categories.

• Delivery and transportation

  HepsiJet

  HepsiJet is Hepsiburada’s transportation and delivery business. It operates in the Turkish e-commerce sector and is described as serving all 81 provinces of Turkey, supporting delivery of orders placed through Hepsiburada and potentially other commerce channels.

• E-commerce logistics

  HepsiLojistik

  HepsiLojistik provides operational services for e-commerce sellers, including stocking, inventory handling, addressing, packaging, shipping, invoicing, delivery, and returns. Its services are available for transactions conducted on Hepsiburada and for sales made through other e-commerce platforms.

• Fintech and payments · 2016

  HepsiPay

  HepsiPay is Hepsiburada’s wholly owned financial-technology business. Its services include a digital wallet, a prepaid card, and payment-gateway capabilities for businesses, extending the platform beyond retail into digital payments.

• Grocery and rapid delivery

  Hepsiburada Market

  Hepsiburada Market is a delivery application and commerce service for supermarket and everyday items. Its assortment can include food, water, flowers, and other frequently purchased goods delivered directly to consumers.

• Membership and loyalty · 2023

  Hepsiburada Premium

  Hepsiburada Premium is a paid membership program launched to provide a loyalty proposition for customers and deepen engagement with the wider Hepsiburada ecosystem.

• Cross-border e-commerce

  Hepsiburada Global

  Hepsiburada Global is an export-oriented platform intended to help Hepsiburada and participating sellers offer Turkish products to customers outside Turkey.

• Local-products marketplace program · 2021

  HepsiTürkiye’den

  HepsiTürkiye’den promotes locally produced and geographically marked Turkish products on the e-commerce platform. The program is intended to connect local entrepreneurs with digital commerce and improve the domestic and international reach of qualifying products.

• 2023Turkish National Basketball Teams Sponsorship

  Turkey

  Hepsiburada became the main sponsor of Turkey’s men’s and women’s national basketball teams under a two-year agreement announced on June 7, 2023.

  Outcome. Increased the brand’s association with Turkish national sports teams.

  Source
• 2021HepsiTürkiye’den

  Turkey

  Hepsiburada introduced a program for geographically marked and locally produced goods, helping consumers discover products associated with specific Turkish regions and producers.

  Outcome. Created a dedicated route to market for local and geographically marked products.

  Source
• 2017Technology Power for Women Entrepreneurs

  Turkey

  Hepsiburada created a program to bring women entrepreneurs, women’s cooperatives, and civil-society organizations into the digital marketplace. By 2023, the program was reported to have integrated more than 50,000 women entrepreneurs, nearly 250 women’s cooperatives, and 30 civil-society organizations.

  Outcome. Expanded participation by women-led and community-based businesses on the marketplace.

  Source

• 2025

  Acquisition by Kaspi.kzM&A

  Background

  Hepsiburada had developed a Turkey-focused marketplace and supporting payments and logistics businesses after its Nasdaq listing.

  Action taken

  Kaspi.kz completed the acquisition of a controlling stake in Hepsiburada.

  Aftermath

  Hepsiburada became part of Kaspi.kz’s broader digital-commerce and financial-services group while continuing to operate under its own brand.

  Source

• 2023

  Launch of Hepsiburada PremiumProduct launch

  Background

  Hepsiburada aimed to strengthen customer retention and create a paid relationship with frequent users.

  Action taken

  The company launched Hepsiburada Premium as a membership-based loyalty program.

  Aftermath

  Premium became part of the platform’s broader consumer-services ecosystem.

  Source

• 2022

  Sustainability and artificial-intelligence initiativesStrategy

  Background

  Hepsiburada sought to formalize sustainability commitments and support the development of Turkish e-commerce technology.

  Action taken

  The company signed the United Nations Global Compact and supported the establishment of an E-Commerce Competence Center at TÜBİTAK-BİLGEM’s Artificial Intelligence Institute.

  Aftermath

  The initiatives connected the company with international sustainability principles and Turkey’s national artificial-intelligence development agenda.

  Source

• 2021

  Nasdaq public listingOther

  Background

  Hepsiburada sought access to international public equity markets while remaining focused on Turkish digital commerce.

  Action taken

  The company listed on Nasdaq and began trading on July 1, 2021.

  Aftermath

  Hepsiburada became the first Turkish company to list on Nasdaq.

  Source

• 2016

  Launch of HepsiPayProduct launch

  Background

  The platform was expanding beyond product retail into services supporting online transactions.

  Action taken

  Hepsiburada launched HepsiPay as a wholly owned online-payments venture.

  Aftermath

  The Hepsiburada ecosystem gained digital-wallet, prepaid-card, and payment-gateway capabilities.

  Source

• 2015

  Shift to a hybrid marketplace modelStrategy

  Background

  Hepsiburada had operated primarily as a direct-selling retailer holding its own inventory. Following feedback from approximately six million people, it sought to broaden its assortment and seller base.

  Action taken

  The company enabled businesses and merchants to open stores and sell directly to consumers while retaining first-party retail operations.

  Aftermath

  Hepsiburada evolved into a hybrid e-commerce platform combining direct retail with third-party marketplace services.

  Source

• 2021-11-29

  HepsiPay and Paycell announce a payment agreement[2]HepsiPay与Paycell宣布支付合作协议prnewswire.com

  Reported: 2021-11-29

  HepsiPay announced a payment agreement with Paycell enabling consumers to shop on Hepsiburada using HepsiPay Wallet and direct carrier billing without a bank card.

• 2021-11-12

  Hepsiburada and Facebook partner on advertising platform[3]Hepsiburada与Facebook合作推出广告平台prnewswire.com

  Reported: 2021-11-12

  Hepsiburada announced a partnership with Facebook to provide Managed Partner Ads, enabling Hepsiburada SMEs to place targeted adverts on Facebook and Instagram.

• 2021-11-12

  Hepsiburada announces Managed Partner Ads[3]Hepsiburada与Facebook合作推出广告平台prnewswire.com

  Reported: 2021-11-12

  Hepsiburada announced Managed Partner Ads, an advertising platform developed in partnership with Facebook for small and mid-size enterprises selling on Hepsiburada. It allows them to place targeted adverts on Facebook and Instagram and manage campaigns.

• 2021-08-26

  Hepsiburada announces second-quarter 2021 results[4]Hepsiburada公布2021年第二季度业绩prnewswire.com

  Reported: 2021-08-26

  Hepsiburada announced unaudited financial results for the second quarter ended June 30, 2021, reporting GMV of TRY 5.9 billion, revenue of TRY 1,754.7 million and a net loss of TRY 324.1 million.

• 2021-07-06

  Hepsiburada closes initial public offering[5]Hepsiburada完成首次公开募股prnewswire.com

  Reported: 2021-07-07

  Hepsiburada announced that it closed its initial public offering on July 6, 2021, offering 65,251,000 American Depositary Shares at $12.00 per ADS.

• 2021-06-01

  Hepsiburada files for US IPO[6]Hepsiburada提交美国IPO申请coinspeaker.com

  Reported: 2021-06-01

  Hepsiburada filed to go public in the United States through an initial public offering; the article says it planned to list on Nasdaq.

• 2015-02-23

  Abraaj Group announces minority investment in Hepsiburada[7]Abraaj Group 宣布投资 Hepsiburada 少数股权customstoday.media

  Reported: 2015-02-23

  Abraaj Group announced its acquisition of a minority stake in Hepsiburada.com, an online retailer in Turkey. The investment was to support expansion of Hepsiburada’s e-commerce operations, including a fulfillment center.

1. 1Hepsiburadaen.wikipedia.org
2. 2HepsiPay与Paycell宣布支付合作协议prnewswire.com
3. 3Hepsiburada与Facebook合作推出广告平台prnewswire.com
4. 4Hepsiburada公布2021年第二季度业绩prnewswire.com
5. 5Hepsiburada完成首次公开募股prnewswire.com
6. 6Hepsiburada提交美国IPO申请coinspeaker.com
7. 7Abraaj Group 宣布投资 Hepsiburada 少数股权customstoday.media
8. 8Abraaj Group acquires minority stake in Turkey Hepsiburadacustomstoday.media