Core Insights - Alibaba disclosed in its mid-year report for fiscal year 2026 that it sold 85% of Trendyol GO, a subsidiary operating local life services in Turkey, for approximately $700 million (RMB 5 billion) [1][3] Financial Performance - The sale generated approximately RMB 6 billion in revenue, which was included in the unaudited condensed consolidated profit and loss statement for the six months ending September 30, 2025, primarily considering cash received, the net asset value of Trendyol GO, and the fair value of the retained 15% equity [3] - In the fourth quarter of fiscal year 2023, Alibaba's international retail business, including Lazada, AliExpress, Trendyol, and Daraz, saw a 15% year-on-year increase in order volume and a 41% increase in revenue [4] - Trendyol's business showed strong recovery starting March, with a year-on-year order growth rate of 46% in the first quarter of fiscal year 2024 [4] - In the third quarter of fiscal year 2025, Alibaba's international digital commerce group reported a 10% year-on-year revenue increase to RMB 34.799 billion, with adjusted EBITDA profitability of RMB 162 million, driven by logistics optimization and improved input efficiency [4] Company Background - Trendyol, founded in 2010 and operated by the Turkish e-commerce platform Trendyol, was initially acquired by Alibaba in 2018 for at least $750 million, with further investment of $350 million in 2021, raising Alibaba's stake to 86.5% [3] - Trendyol has been positioned as a key player in Alibaba's globalization strategy, with aspirations to become "the Alibaba of Turkey" as stated by its 32-year-old founder, Demet Mutlu [3]