Stay up to date on our entrepreneurs, events, research and more. Check out our October newsletter here.
Amount of the bonuses, on average, given to Yemeksepeti employees
Yemeksepeti, Turkey’s largest food delivery service, made headlines after CEO and Endeavor Entrepreneur Nevzat Aydin paid out $27 million in bonuses to the firm’s employees. This was following the company’s record acquisition by Delivery Hero in early 2015. The news demonstrates the power of entrepreneurs who build high-impact businesses, inspire others, and give back to the ecosystem.
The company’s $589 million acquisition marked the biggest deal of its kind to date for a Turkish tech firm. Founded by entrepreneurs Nevzat Aydın, Melih Ödemiş and Cem Nufusi 15 years ago, the company now claims 370 employees and deliveries of over 3 million meals per month.
In his decision to share bonuses with 114 members of his staff, Nevzat remarked that their success “did not happen overnight” and that “many people participated in this journey with their hard work and talent.” The bonuses gifted to employees were determined based on performance, tenure at the firm, and future potential with the company. On average the bonuses were worth $237,000, roughly 150 times a typical employee’s monthly pay. Many of the recipients remarked on the life-changing quality of the amount.
“I believe in teamwork and I believe success is much more enjoyable and glorious when shared with the rest of the team,” Nevzat further commented in an interview with CNN Money.
Nevzat will continue his work with Yemeksepeti as CEO, overseeing operations in Turkey as well as the UAE, Saudi Arabia, Lebanon, Oman, Qatar, and Jordan, and will also join the executive board of Delivery Hero.
Selected into the Endeavor network in 2007, Yemeksepeti’s founders have received strategic guidance from Endeavor mentors as well as introductions to key investors, having attended and participated in a number of Endeavor events around the world. Endeavor Catalyst participated in Yemeksepeti’s 2012 $44 million funding round led by General Atlantic. Its acquisition would mark Catalyst’s second successful exit. As of 2015, Nevzat has also joined the board of Endeavor Turkey, becoming the third entrepreneur to do so locally.
Read more about the high-impact news in top media outlets including CNN Money, TIME and Turkey’s Hürriyet Daily News.
© 2016 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Site by #BRITEWEB