[Turkey]
Markafoni, the first Turkish player in the wave of private shopping clubs in Europe, is planning to start operations in seven other countries by the end of 2010. Markafoni is planning to operate in Ukraine and Greece first, and looking at other markets.
Markafoni was founded in June 2008, and also now operates in Australia under the name BrandsExclusive.
Tolga Tatari, one of the cofounders, told us the company, which has 600,000 members in Turkey, has seen a seven-digit turnover in September and since then has been cash flow positive. Tatari says that 85 percent of its members sign in to the site every month. Markafoni has 60,000 visitors per day and a 30-person team in Turkey.