Welcome to our dedicated page for D-Market Electronic Services & Trading news (Ticker: HEPS), a resource for investors and traders seeking the latest updates and insights on D-Market Electronic Services & Trading stock.
D-MARKET Electronic Services & Trading reports recurring updates as Hepsiburada, a Turkish e-commerce technology platform whose ADSs trade under HEPS. The company operates a hybrid model that combines first-party direct sales with a third-party marketplace, offering electronics and non-electronics merchandise and generating revenue from sales of goods, marketplace activity and other services.
Company announcements address unaudited financial results, order, GMV and revenue trends, and IFRS reporting adjusted under IAS 29 for hyperinflationary economies. Recurring business topics include Hepsipay digital wallets, general-purpose loans, buy now pay later, fulfillment, last-mile delivery, advertising, cross-border sales, payment services, affordability solutions, shareholder meetings, governance matters and ADR voting mechanics.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), will release its second quarter financial results for the period ending June 30, 2022, before the U.S. market opens on September 28, 2022. The company will host a conference call and live webcast for analysts and investors on the same day at 16:00 Istanbul time. Hepsiburada is a prominent Turkish e-commerce platform providing a range of services including same-day grocery delivery and an embedded digital wallet, Hepsipay, connecting 44.2 million members with 82.9 thousand Active Merchants.
D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced on August 17, 2022 that it has regained compliance with Nasdaq's minimum bid price requirement of US$1.00 per share. The company's American depositary shares achieved this closing bid price for ten consecutive business days. Nasdaq confirmed that this compliance issue is now resolved. Hepsiburada, a leading Turkish e-commerce platform, serves 44.2 million members and 82.9 thousand active merchants, offering a variety of products and services, including same-day grocery delivery.
HepsiJet has introduced a new 'Multi-Vehicle Route Optimization' technology, registered by TURKPATENT, aimed at enhancing delivery efficiency for Hepsiburada, a leading Turkish e-commerce platform. This innovative system significantly improves cargo routing, enabling faster deliveries across Türkiye. Users can manage their orders through mobile and web apps, with shipments prioritized based on vehicle types and destination limits. The optimization process, inspired by ant colonies, ensures effective routes and minimizes delivery times.
Hepsiburada (NASDAQ: HEPS), a prominent Turkish e-commerce platform, has signed the United Nations Women's Empowerment Principles, aiming to enhance gender equality in various sectors. CEO Murat Emirdağ emphasized the company's dedication to sustainability and social responsibility. The firm launched the Technology Empowerment for Women Entrepreneurs Program in 2017, helping over 32,000 female entrepreneurs with essential resources. Hepsiburada connects 44.2 million members and 82,900 Active Merchants, providing a wide range of services including grocery delivery and digital payments.
On July 22, 2022, Hepsiburada (NASDAQ: HEPS) received a notice from Nasdaq indicating that its American depositary shares (ADSs) have fallen below the minimum bid price requirement of US$1.00 per share for continued listing. This notification is not an imminent delisting notice and does not affect trading currently. The company has until January 18, 2023, to regain compliance by achieving a bid price of US$1.00 or above for at least 10 consecutive business days. Hepsiburada's operations remain unaffected as it considers measures to meet this requirement.
Hepsiburada (NASDAQ: HEPS) announced the appointment of Nilhan Onal as CEO, effective January 1, 2023, succeeding Murat Emirdag, who will transition to a non-executive board role. Onal brings 25 years of experience, including prior roles at Amazon Europe and Procter & Gamble. Emirdag led Hepsiburada since February 2019, achieving significant growth and developing integrated technology ecosystems. Founder Hanzade Dogan expressed gratitude for Emirdag's leadership and optimism for Onal's impact on the company's future.
Hepsiburada has launched Hepsiburada Premium, the first monthly subscription service in Turkey's e-commerce sector, offering numerous benefits. Subscribers enjoy free delivery on orders over 25₺, 3% cashback through HepsiPay, free assembly for furniture and tires, and a complimentary BluTV subscription. They also receive special brand offers and expedited customer support. This introduction aligns with Hepsiburada's goal to enhance customer experience while positioning itself as a leader in digital commerce in Turkey.
Hepsiburada (NASDAQ: HEPS) has updated shareholders on significant amendments to Turkey's E-commerce Law, approved by the Turkish Parliament on July 1, 2022. The changes aim to create a fairer e-commerce environment by limiting marketing expenditures and banning private label products, effective January 1, 2024. Additionally, businesses exceeding certain transaction values must obtain a license and pay fees based on their net transaction value, starting January 1, 2025. Hepsiburada anticipates these amendments will promote a healthier market and does not foresee limitations on its strategic operations.
D-MARKET Electronic Services & Trading (Hepsiburada) (NASDAQ: HEPS) announced new appointments to its Audit, Risk, and Corporate Governance Committees, following recent changes to the Board of Directors. Effective June 24, 2022, Dr. H. Cem Karakaş and Mr. Ahmet F. Ashaboğlu have joined the Board, replacing Mr. Erol Çamur and Mr. H. Korhan Öz. Additionally, Mr. Cemal Ahmet Bozer stepped down from committee positions due to independent member qualifications. The new Audit Committee members are deemed independent and financially literate under applicable regulations, enhancing corporate governance.
D-MARKET Electronic Services & Trading (Hepsiburada) announced the appointment of Erkin Aydın as CEO of Hepsi Finansal Danışmanlık A.Ş. effective June 1, 2022. This appointment aligns with the company’s strategy to enhance its financial services, particularly following its acquisition of Doruk Finansman, marking Hepsiburada's entry into the consumer finance sector. Aydın brings extensive experience from QNB Finansbank and aims to position Hepsiburada as a leading Fintech player in Turkey.