Amazon has acquired a minority stake in Ciceksepeti, which operates an online flower and gifts store in Turkey. Founded by CEO Emre Aydin in 2006, the company delivers flowers, jewelry, gourmet products, toys and other gifts to customers across the country, including same-day deliveries in most metropolitan areas.
Headquartered in Istanbul, CicekSepeti currently employs 160 people.
The minority investment of the American online retail juggernaut is subject to customary regulatory approvals in Turkey. Financial terms of the investment were not disclosed.
Ciceksepeti earlier raised funding from Belgium-based early stage investor Hummingbird Ventures.
As I wrote earlier, Turkey is a red hot market for e-commerce and other digital companies, and investors – and increasingly, large acquirers – are taking notice.
Over the summer, Kleiner Perkins Caufield & Byers and Tiger Global invested between $25 million and $30 million in private shopping site Trendyol, and Swedish investment company Quants Financial Services recently bought a majority stake in Grupfoni.
Another interesting startup – among many others – in Turkey that has raised funding from top-tier European VCs is social gaming company Peak Games.
(Hat tip to our friends at Webrazzi)
Amazon.com, Inc. (AMZN), is a leading global Internet company and one of the most trafficked Internet retail destinations worldwide. Amazon is one of the first companies to sell products deep into the long tail by housing them in numerous warehouses and distributing products from many partner companies. Amazon directly sells or acts as a platform for the sale of a broad range of products. These include books, music, videos, consumer electronics, clothing and household products. The majority of Amazon’s...
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