Welcome to our dedicated page for Marti Technologies news (Ticker: MRT), a resource for investors and traders seeking the latest updates and insights on Marti Technologies stock.
Marti Technologies, Inc. (NYSE American: MRT) is Türkiye’s leading mobility app and a self-described mobility super app, and the MRT news feed on Stock Titan aggregates the company’s key operational, financial and corporate announcements. Marti’s press releases cover developments in its ride-hailing marketplace, two-wheeled electric vehicle services, delivery offerings and public transportation integrations, providing insight into how the platform evolves across Turkish cities.
Investors and observers following MRT news will find updates on ride-hailing rider and driver milestones, city expansion waves that extend Marti’s footprint to 20 markets across Türkiye, and information about how the share of riders and drivers outside Istanbul is changing over time. The company also issues news on new services, such as the launch of same-hour package delivery, and on app enhancements that integrate metros, trams, buses, ferries and other public transport modes into a single trip-planning experience.
Marti’s news releases frequently include commentary on monetization of ride-hailing, revenue growth, adjusted EBITDA trends and investment plans, alongside disclosures about financing arrangements and share repurchase program amendments. Corporate governance items, such as inclusion in the S&P Global Broad Market Index and the timing and agenda of annual general meetings, are also communicated through these updates.
This MRT news page brings together these company-issued communications so readers can review Marti’s latest operational metrics, service launches, geographic expansion steps and capital markets actions in one place. For anyone tracking Türkiye’s tech-enabled mobility sector, Marti’s regular press releases offer a detailed view of how the company is executing its strategy across ride-hailing, electric vehicles, deliveries and mobility-as-a-service.
Pershing Square Capital Management (PSCM) has announced the sale of a 10% common equity interest in Pershing Square Holdco, a new partnership owning 100% of PSCM, for $1.05 billion to strategic investors including Arch Capital Group (ACGL). This sale involves an internal reorganization of PSCM's ownership structure, resulting in a deemed assignment under the Investment Advisers Act of 1940. The reorganization has been approved by the Pershing Square Holdings (PSH) board, ensuring no changes to PSCM's management team or its investment management role. Furthermore, an independent Board of Directors has been established. Bill Ackman remains the largest shareholder of the controlling The transaction aims to accelerate growth in assets under management and maintain high long-term returns for investors.
Pershing Square Capital Management announced the sale of a 10% common equity interest in Pershing Square Holdco for $1.05 billion to a group of strategic investors, including Arch Capital Group (NASDAQ: ACGL). This strategic investment aims to accelerate Pershing Square's growth in assets under management.
Additionally, Pershing Square has established an independent Board of Directors and reorganized its ownership structure. This reorganization includes the creation of a liability company controlled by senior management. The transaction will not affect Pershing Square’s investment management services.
Bill Ackman, Pershing Square's founder and CEO, expressed enthusiasm about the new investors and the growth opportunities they bring. Key appointments following the transaction include Ben Hakim as President and Nick Botta as Vice Chairman.
Marti Technologies, Türkiye’s leading mobility app, announced substantial growth in its ride-hailing service, reaching over 925,000 riders and 155,000 registered drivers as of May 20, 2024. This surpasses its June 2024 targets of 900,000 riders and 155,000 drivers, achieved 1.5 months early. Rider numbers increased by 86% and drivers by 46% from December 2023 to May 2024.
Encouraged by this growth, Marti revised its June 2024 targets to 1,000,000 riders and 165,000 drivers. Notably, over 130,000 of these drivers operate in Istanbul, which has only 19,845 taxis. Marti ensures rider safety through formal background checks, and drivers are rated 4.8 out of 5 stars.
Despite not enabling online payments or charging fees, Marti's ride-hailing service has significantly disrupted the market. McKinsey & Company estimates Türkiye's taxi market at $9-12 billion, with potential growth to $15-20 billion by 2030 due to ride-hailing.
Marti Technologies has appointed Oguz Erkan as the new CFO, effective May 17, 2024, replacing Cem Yasar Ozey. Erkan brings extensive experience from his roles at GlaxoSmithKline and Arçelik-Beko, making him well-suited to support Marti’s growth. The company appreciates Ozey's contributions during their first year as a US public company. CEO Oguz Alper Oktem highlighted Erkan's expertise in managing large-scale finances and completing value-creation projects. Erkan holds degrees in Business Administration and an Executive MBA from Koç University.
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