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Uber to Acquire 85% Stake in Turkey’s Trendyol GO for $700 Million

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Uber announced on Tuesday that it will acquire an 85% controlling stake in Trendyol GO, Turkey’s fast-growing food and grocery delivery platform, in a $700 million deal. The move marks a strategic push into high-growth international markets as Uber faces market saturation in North America.

Trendyol GO, a subsidiary of Turkish e-commerce giant Trendyol Group, currently delivers food and groceries across the country, partnering with over 90,000 restaurants and markets and utilizing a fleet of 19,000 couriers. The platform fulfilled more than 200 million orders in 2024, with gross bookings of approximately $2 billion, representing a 50% year-on-year growth, Uber said.

The acquisition is expected to close in the second half of 2025. Following the deal, Trendyol GO will retain its independent branding and operations, while Uber plans to gradually integrate elements from its global food delivery platform, Uber Eats.

This expansion comes shortly after Uber dropped its $950 million bid for Delivery Hero’s Foodpanda in Taiwan, citing regulatory issues. Uber’s broader strategy includes expanding its delivery business and exploring self-driving vehicle partnerships to diversify revenue beyond its ride-hailing core.

Meanwhile, competition in the food delivery space is intensifying. DoorDash announced on the same day that it will acquire UK-based Deliveroo for $3.85 billion, aiming to strengthen its European presence and compete more effectively with Uber Eats and Just Eat.

Uber will release its Q1 earnings report on Wednesday, and analysts are watching closely to see how international investments like Trendyol GO might bolster its global growth outlook.

FTC Files Lawsuit Against Uber Over Alleged ‘Deceptive’ Subscription Enrollments

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Uber Technologies is facing a lawsuit filed by the U.S. Federal Trade Commission (FTC), accusing the company of engaging in “deceptive billing and cancellation practices” with its Uber One subscription service. According to the FTC, Uber misled consumers into signing up for its premium service without their consent and made it unreasonably difficult for them to cancel. The commission claims that users were subjected to a complex and burdensome process when attempting to cancel, requiring them to navigate as many as 23 screens and complete up to 32 actions to end their subscriptions.

In its complaint, filed on Monday, the FTC alleges that Uber charged consumers for Uber One without their explicit approval, and that the company misrepresented the savings and benefits associated with the program. The regulatory body’s investigation into these practices has intensified concerns over the clarity and transparency of subscription-based services, with Uber now facing scrutiny over its business model. This legal battle comes on the heels of a broader push by the FTC to crack down on subscription traps that make it difficult for consumers to cancel services they no longer want.

Following the announcement of the lawsuit, Uber’s stock saw a significant decline, dropping as much as 5.3 percent in New York, signaling investor concern over the potential consequences of the legal action. As of 2:15 p.m. on the same day, Uber’s shares were down 4.5 percent to $71.84. In response to the FTC’s claims, Uber has denied the allegations, asserting that it does not sign up or charge users without their consent. The company maintains that the cancellation process for Uber One now takes most users only 20 seconds or less, calling the FTC’s actions misguided.

The lawsuit is part of the FTC’s ongoing effort to protect consumers from deceptive business practices, particularly in the subscription sector. Recently, the agency has filed similar cases against major companies, including Amazon and Adobe, for allegedly making it overly complicated for consumers to cancel unwanted subscriptions. As the case moves forward, Uber remains confident that the court will find its sign-up and cancellation processes to be clear, simple, and in compliance with the law.

Avride Partners with Hyundai to Expand Robotaxi Fleet

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Self-driving technology startup Avride has announced a strategic partnership with Hyundai Motor Co to expand its fleet of robotaxis. Under the deal, Avride will incorporate 100 Hyundai IONIQ 5 cars into its fleet this year, with plans to grow further by 2026 as the company seeks to enhance its autonomous vehicle services and expand into new regions.

Avride, based in Texas, is joining a growing group of companies advancing autonomous vehicle technology and expanding their fleet of robotaxis. This includes Tesla, which is preparing to launch its own autonomous ride-hailing service in California and Texas, and Alphabet’s Waymo, which recently rolled out its robotaxi service on Uber’s platform in Austin.

As part of the partnership, Avride’s IONIQ 5 cars will be retrofitted with the company’s self-driving technology and used exclusively on Uber’s platform in Dallas, Texas. These vehicles will be manufactured at Hyundai’s Metaplant facility in Georgia, and the two companies also aim to explore autonomous delivery services using Avride’s technology.

Avride’s connection with Hyundai is not new, as the startup was previously part of Russian company Yandex’s self-driving division and has collaborated with Hyundai’s automotive supply unit in the past to develop systems for autonomous vehicles.