Demet Mutlu is the founder of Trendyol, which dominates approximately one-third of Türkiye's e-commerce ecosystem. Mutlu has been named among Fortune Magazine’s “World’s Most Powerful Women” and was selected by The Economist as “Entrepreneur of the Year” in 2019.

Education

Demet Mutlu was born in New York in 1981. She attended part of elementary school in New York and another part in England. After completing her high school education in Italy with her family’s support, she returned to New York for university. She graduated with honors in Economics from New York University (NYU). After graduation, she gained professional experience in Istanbul, Switzerland, and Japan. She was later admitted to the MBA program at Harvard University. However, in 2010, Mutlu left Harvard midway to found the e-commerce company Trendyol.

Career and the Founding of Trendyol

The idea for Trendyol emerged during Mutlu’s time at Harvard. During visits to Türkiye, she recognized the potential of the textile and fashion sectors but also observed the barriers preventing this potential from reaching customers. The concept of a service enabling everyone to shop from anywhere at any time arose from these observations.

Mutlu decided to leave Harvard one year before completing her MBA program. Despite her family’s objections, she moved to Istanbul to launch her venture. As initial capital, she sold her apartment in Bebek for $300,000. Among Trendyol’s first investors were Emre Kurttepeli, founder of Mynet, and Sidar Şahin, founder of Peak Games. The company’s valuation reached $150 million within just six months.

In 2018, Chinese e-commerce giant Alibaba first acquired 75 percent of Trendyol’s shares, followed by an additional stake increasing its ownership to 86.5 percent.^【1】 This partnership accelerated Trendyol’s growth. In the same year, Trendyol expanded internationally by launching operations in 27 countries across Europe. Trendyol became Türkiye’s first technology company to reach a $10 billion valuation, earning the title of “decacorn.”

Awards and Achievements

• Named among Fortune Magazine’s “World’s Most Powerful Women”
• Selected by the World Economic Forum as a “Young Global Leader”
• Recognized by The Economist as “Entrepreneur of the Year” in 2019
• Featured on Fortune’s 40 Under 40 list
• Recognized as one of the exemplary figures in Türkiye’s entrepreneurship ecosystem