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Hepsiburada (NASDAQ: HEPS) has received all four required regulatory approvals for the previously announced sale of 65.4% of its outstanding shares to Joint Stock Company Kaspi.kz. The approvals came from the Turkish Competition Board, Banking Regulation and Supervision Agency, Information Technologies and Communications Authority, and Central Bank of the Republic of Türkiye.

The company has scheduled an Extraordinary General Assembly Meeting for January 31, 2025, at its Istanbul headquarters. The meeting agenda includes electing new Board of Directors members, amending several articles of the company's Articles of Association, and removing certain articles related to share transfers and share classes. Shareholders holding ADSs must exercise their voting rights through The Bank of New York Mellon.

Hepsiburada (NASDAQ: HEPS) announced changes to its Board of Directors. Mr. Hikmet Ersek, who served as an independent board member and member of the Corporate Governance Committee, will step down from his position effective December 27, 2024. The Board has appointed Mr. Tayfun Bayazıt, another independent board member, to replace Mr. Ersek on the Corporate Governance Committee.

Hepsiburada (NASDAQ: HEPS) reported the 21-month results of its 'Trade and Technology Empowerment for the Earthquake Region' program from March 2023 to December 2024. The program achieved a trade volume exceeding TRY 8.7 billion, with approximately 9,600 active merchants, including 5,700 new businesses. The number of new businesses grew by 22% in the last three months, while trade volume increased by 28%.

The initiative saw 12.1 million products sold through 8 million orders. Notable achievements include TRY 610 million in trade volume generated by over 4,000 women entrepreneurs and women's cooperatives. Additionally, more than 4,000 SMEs and tradespeople received training at E-Commerce Specialization Centers in Adana, Hatay, and Kahramanmaraş.

Hepsiburada (NASDAQ: HEPS) reported its Q3 2024 financial results, showing a 10.3% increase in GMV to TRY 42.3 billion and a 1.7% revenue growth to TRY 12,241.6 million. The company achieved positive operating income of TRY 32.4 million for the first time since its IPO, while EBITDA increased by 286.5% to TRY 507.8 million.

Key operational metrics showed improvement with orders increasing by 18.9% to 32.0 million and Active Customers growing by 1.9% to 12.3 million. The Marketplace GMV share reached 70.4%, up from 65.5% in Q3 2023. Notably, Kaspi.kz has agreed to acquire a controlling 65.4% stake in Hepsiburada, subject to closing conditions.

Hepsiburada (NASDAQ: HEPS) has secured five awards at the International Customer Experience Awards, including a Gold Award for 'Customers at the Heart of Everything.' The company's winning project showcased comprehensive customer journey improvements through AI-driven features, diverse payment options, and enhanced delivery processes. Additional recognitions include Silver for Best Use of Customer Insight and Feedback, and Bronze awards in CX Measurement, Technology Use, and CX Team of the Year categories.

Turkish e-commerce platform Hepsiburada (NASDAQ: HEPS) has announced it will release its unaudited financial results for the third quarter ending September 30, 2024, before U.S. market opens on December 10, 2024. The company will host an analyst and investor conference call and live webcast at 16:00 Istanbul / 13:00 London / 8:00 a.m. New York time on the same day. The presentation will be available on the company's investor relations website, and a replay of the webcast will be accessible after the call.

Hepsiburada (NASDAQ: HEPS) announced that its subsidiary Hepsifinans completed its second bond issuance worth TRY 150 million to domestic qualified investors. The bonds have a six-month maturity with quarterly coupon payments at a 51.50% annual interest rate. This issuance is part of Hepsifinans's approved program to issue bonds up to TRY 1.05 billion within one year. The principal will be repaid at maturity, and the funds will be used to grow Hepsifinans's consumer finance business.

Hepsiburada (NASDAQ: HEPS) and Jumia (NYSE: JMIA) have announced a strategic commercial partnership where Hepsiburada will list its private label products and selected retail assortment, along with curated Turkish brands, on Jumia's platform. The collaboration aims to leverage Jumia's extensive reach in North Africa and Hepsiburada's established presence in Türkiye to provide North African consumers with broader access to Turkish products. The partnership focuses on expanding product offerings and enhancing the shopping experience for Jumia's consumers, with potential for broader engagement across key African markets.

Jumia (NYSE:JMIA) and Hepsiburada (NASDAQ:HEPS) have announced a strategic commercial partnership to enhance product offerings for North African consumers. Through this collaboration, Hepsiburada will list its private label products, retail assortment, and selected Turkish brands on Jumia's platform. The partnership aims to combine Jumia's extensive reach in North Africa with Hepsiburada's established presence in Türkiye, providing consumers access to a wider range of authentic Turkish products. This alliance sets the foundation for broader engagement across key African markets where Jumia operates.