After Hepsiburada was sold to the Kazakhstan-based e-commerce company Kaspi.kz in recent months, N11 has now filed an application to the Turkish Competition Authority for its sale to DMSF Holding, based in the United Arab Emirates (UAE).
Founded in 2013, N11 has attracted attention for changing owners multiple times in recent years. In June 2023, N11 was acquired by the Turkish e-commerce platform Getir. Later, with Mubadala, Getir's largest investor, becoming the main shareholder, the process of N11's sale became more complicated when Getir was transferred to Borançılı Teknoloji, owned by Getir's founder Serkan Borançılı, in 2024.
Most recently, an application was filed with the Turkish Competition Authority for DMSF Holding Limited to acquire 100% of N11's shares. The Competition Authority's website announced that the official process of this transaction has now begun.
The increasing interest of foreign investors in Turkey’s e-commerce sector has led to many domestic platforms being sold to foreign investors. The sale of N11 to DMSF Holding is seen as a step following this trend. The impact of this sale on both the local and global markets, as well as the potential for new strategic developments in the e-commerce sector, marks an important phase in the industry.
