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Trkiyes First Direct NYSE-Listed Company, Marti Technologies, Benefits As Ride Hailing Takes Off

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8 months ago

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–News Direct–

By Meg Flippin, Benzinga

Ride-hailing is taking off in Trkiye, particularly in cities from Istanbul to Izmir to Antalya, as the middle class grows, the population increases and people trade private vehicles and public transportation for on-demand rides. Marti Technologies Inc. (NYSEAMERICAN: MRT), the leading mobility app company hailing from Trkiye, is capitalizing on that growing demand.

The company, which launched its app in 2019, matches riders with car and motorcycle drivers and operates a large fleet of rental e-mopeds, e-bikes and e-scooters. Marti Technologies reports that it became the number one mobility app in Turkiye in 2020, a year after its application launch, and has retained that position every year since. The company also reports that it has over 4.5 million unique riders on its application, and its ride-hailing service boasts 452,000 unique riders and 100,000 registered drivers. All of Martis offerings are serviced by proprietary software systems and IoT infrastructure.

Trailblazing With Its U.S. Listing

Another important milestone, one that's rare for a Turkish company, is a direct U.S. listing. But thats exactly what Marti accomplished this past summer, debuting on the NYSE. Marti was able to pull off the U.S. listing by merging with Galata Acquisition Corp. (NYSE: GLTA). The deal was first announced in August of 2022, and Marti began trading about a year later.

Marti reports that its NYSE debut was the first direct listing of a company in Trkiye, and it is expected to serve as a model for other companies in Trkiye and the region that want to tap the public markets in the U.S. The fact that Marti chose this pioneering financing model underscores the growth potential for ride-hailing in the country, particularly in the Turkish metropolises. Martis public listing was recognized as the International Equity Capital Markets Deal of the Year by Bonds, Loans, and ESG Capital Markets CEE (Central and Eastern Europe), CIS (Commonwealth of Independent States) & Trkiye Awards 2023. McKinsey & Company, the consulting firm, estimates the taxi market size in Trkiye was between $9 billion to $12 billion as of 2021. By 2030, McKinsey & Co. forecasts that the ride-hailing market could grow to between $15 billion and $20 billion.

Checking Off All The Boxes

When the deal was first announced, Marti said the U.S. listing would help it go after the fast-growing Trkiye market, maintain its leadership position, expand its scale and reach to retain customers and do all of it in an environmentally friendly way. In its first four years, Marti has achieved significant traction for its mobility products, strong growth and best-in-class unit profitability, Alper Oktem, Founder and CEO of Marti, said at the time. We are privileged to have the support of top-tier investors and access to the U.S. capital markets following the closing of this proposed transaction, which will leave Marti well-capitalized to seek to become Trkiyes first mobility super app by expanding into other attractive adjacencies, leveraging our growing and loyal customer base.

Since that announcement, Marti seems to have checked all those boxes and then some, showcasing growth that seems similar to ride-hailing leaders in the U.S. such as Uber Technologies Inc. (NYSE: UBER). Month-over-month in December Marti saw ride-hailing riders grow 19% and registered drivers grow 11%. Both areas grew faster than the company expected, underscoring how big of an unmet need it serves. Given the growth in riders and drivers, the company expects to have more than 700,000 riders and over 120,000 registered drivers by March 31, 2024.

If Uber is any evidence, those double-digit growth rates may continue as Marti establishes itself as a leader in the region. For Ubers third quarter, which it announced in November, the ride-hailing leader posted a 31% year-over-year increase in mobility gross bookings and thats in saturated markets. More importantly, it was able to achieve profitability in its ride-hailing business, the largest part of its operation.

While Marti is currently in a legal battle with the taxi association of Istanbul, the notoriously poor quality of service of taxis in the city clearly suggests that an alternative solution is necessary. The UEFA Champions League final, soccer's most prestigious club event globally, took place in Istanbul in 2023, and the competition's governing body UEFA advised all fans and tourists visiting the city to not use taxis for transportation. The problems endemic to the taxi sector in Turkey range from not picking up locals to charging exorbitant unmetered fees to tourists to verbal and physical violence.

Future Plans And Growth Potential

Marti may be focused on ride-hailing for now, but the company plans to expand into other areas of mobility and services, which will increase sales and improve its bottom line. While it's sporting a market capitalization of around $40 million as of mid-January 2024, Marti recently launched a share buyback program, and there may be a lot of potential. One only has to look at the valuations of some of Trkiyes successful online to offline services businesses including e-commerce giant Trendyol, grocery delivery company Getir and food delivery app Yemeksepeti, for evidence. Trendyol, which is majority-owned by Alibaba Group Holding Ltd. (NYSE: BABA) Chinas leading e-commerce company, which is one of the countrys first decacorns with a valuation of more than $16 billion while Getir sports a valuation of around $2.5 billion and Yemeksepeti was acquired by Delivery Hero in a $589 million deal. Trkiye is reportedly unique in that local players, not international ones, tend to lead in the market and grow organically through investments and via M&A.

Over the years Alibaba has invested $1.4 billion into Trkiye and plans to invest as much as $2 billion more. Given Trkiyes strategic location between Europe and Asia, Alibaba sees Trkiye as the perfect pit stop to fuel the e-commerce giants expansion in Europe. As a result, it has been investing to build up logistics and data centers in key locations in the country. Its not just Alibaba that is eyeing Trkiye for expansion. Shein, the fast-fashion brand, recently started manufacturing in Trkiye, and in the fall, Amazon.com Inc. (NASDAQ: AMZN) opened its first logistics center. All of that could fuel the rise of the middle class in Trkiye and the need for rides in cities, which means potentially more business for Marti.

The ride-hailing market seems to be taking off in Trkiye, and Marti seems well-positioned to capitalize. It's already a leading app and has the name recognition of a U.S. listing and the backing of investors in U.S. markets. It doesnt yet boast the market valuation of its larger rivals in the U.S. and cant claim decacorn status in Trkiye, but that also indicates room to grow. Marti has the pedal to the metal and plans to stay in the lane for the years to come.

Featured photo by Anna Berdnik on Unsplash.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

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View source version on newsdirect.com: https://newsdirect.com/news/turkiyes-first-direct-nyse-listed-company-marti-technologies-benefits-as-ride-hailing-takes-off-601995804

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Campus Eye Center: Comprehensive Eye Care Services Focused on Vision Health and Patient Satisfaction

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36 mins ago

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October 18, 2024

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Campus Eye Center, a leading provider of comprehensive eye care services in Lancaster, PA, is committed to delivering personalized and advanced care for all patients. Specializing in a broad spectrum of eye conditions and treatments, the clinic is dedicated to improving the community’s vision health while focusing on patient satisfaction and the latest advancements in ophthalmology. 

With a team of experienced ophthalmologists and optometrists, Campus Eye Center offers a wide range of eye care services, from routine eye exams to more complex treatments like cataract surgery and glaucoma management. Serving the Lancaster community and surrounding areas, the clinic continues to build on its reputation for excellence by providing tailored solutions that meet each patient’s individual needs. 

Advanced Eye Care Services 

A robust portfolio of eye care services is at the heart of Campus Eye Center’s offerings. The clinic provides care for common and complex eye conditions, focusing on delivering the highest quality of service with cutting-edge technology and innovative treatment options. Some of the core services include: 

Comprehensive Eye Exams 

Regular eye exams are essential to maintaining good vision health, and Campus Eye Center offers thorough, personalized eye exams for patients of all ages. During these exams, the clinic’s specialists assess overall eye health, check for refractive errors, and identify early signs of eye diseases such as glaucoma, macular degeneration, and cataracts. These comprehensive evaluations guide patients through every step of maintaining optimal vision health. 

Cataract Surgery and Treatment 

Cataracts, a common cause of vision impairment among older adults, can significantly affect a person’s quality of life. Campus Eye Center specializes in diagnosing and treating cataracts, with options ranging from non-surgical treatments to advanced cataract surgery. Using the latest techniques in cataract surgery, including laser-assisted surgery, the clinic’s ophthalmologists ensure patients experience a smoother recovery and better long-term vision outcomes. 

Glaucoma Diagnosis and Management 

Glaucoma is a serious eye condition that can lead to vision loss if not diagnosed and treated early. Campus Eye Center provides expert glaucoma care, offering early detection and advanced treatment options to prevent the progression of this condition. The clinic’s experienced specialists work closely with patients to develop individualized treatment plans, including medications, laser treatments, or surgery, to effectively manage and control intraocular pressure. 

Dry Eye Management 

Dry eye syndrome is a common but often overlooked condition that can cause significant discomfort and affect daily life. Campus Eye Center provides specialized care for individuals suffering from dry eye, offering treatments ranging from over-the-counter eye drops to advanced therapeutic options. By addressing the root causes of dry eye, the clinic helps patients achieve lasting relief from symptoms such as redness, irritation, and blurred vision. 

Pediatric Eye Care 

Recognizing the importance of early eye care for children, Campus Eye Center offers pediatric eye care services designed to detect and treat vision problems in young patients. The clinic’s pediatric eye exams identify refractive errors, amblyopia (lazy eye), and other common childhood eye conditions. Early detection and treatment of these issues ensure that children enjoy healthy vision as they grow and develop. 

Diabetic Eye Care 

Patients with diabetes are at increased risk of developing serious eye conditions, including diabetic retinopathy. Campus Eye Center provides specialized care for diabetic patients, offering regular screenings and advanced treatment options to prevent and manage diabetes-related eye complications. The clinic’s comprehensive approach helps protect and preserve the vision of diabetic patients through early intervention and ongoing management. 

Cutting-Edge Technology and Patient-Centered Care 

Campus Eye Center stands out for its commitment to utilizing the latest technology in eye care. Whether through advanced diagnostic equipment or minimally invasive surgical techniques, the clinic ensures that patients benefit from the most effective and up-to-date treatments available. This dedication to innovation is complemented by a strong emphasis on patient-centered care, with every member of the team focused on delivering personalized attention to meet the specific needs of each individual. 

The clinic’s state-of-the-art facility in Lancaster is designed to provide a comfortable and welcoming environment for patients. From the moment a patient walks in, they are greeted by a team that is attentive, compassionate, and dedicated to making their visit as seamless and stress-free as possible. 

Community Involvement and Education 

Campus Eye Center also believes in giving back to the community and actively participates in educational programs to raise awareness about the importance of eye health. By organizing vision screenings and providing educational resources, the clinic helps community members understand how to protect their eyesight and prevent vision loss. 

About Campus Eye Center 

Located in Lancaster, PA, Campus Eye Center is a full-service ophthalmology practice dedicated to providing exceptional eye care services to patients of all ages. With a team of experienced professionals and a wide range of advanced treatment options, Campus Eye Center is the go-to destination for anyone seeking top-quality eye care in the region. The clinic’s comprehensive services cover everything from routine eye exams to specialized care for complex eye conditions. 

Contact Information

  • Campus Eye Center 
  • 217 Harrisburg Ave, Suite 103 
  • Lancaster, PA 17603 
  • Phone: (717)974-9661 
  • Website: www.campuseyectr.com

Media Contact

Organization: Campus Eye Center

Contact Person: Brenda Barnhart

Website: http://campuseyectr.com/

Email: Send Email

Contact Number: +17179749661

Address: 2108 Harrisburg Pike, Suite 100, Lancaster PA 17601

Country: United States

Release Id: 18102418613

The post Campus Eye Center: Comprehensive Eye Care Services Focused on Vision Health and Patient Satisfaction appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Meet the Top Landscaping Lawn Care and Tree Service Company in Clarksville TN

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36 mins ago

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October 18, 2024

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Discover why Bourne Brothers Landscaping is the leading landscaping, lawn care, and tree removal service in Clarksville, TN.

Clarksville, TN – Bourne Brothers Landscaping is proud to announce its rise as the leading provider of top-quality landscaping, lawn care, and tree services in Clarksville, TN. With a reputation built on trust, professionalism, and attention to detail, the company has quickly become the go-to choice for both residential and commercial clients seeking superior outdoor maintenance and beautification services.

Founded by experts with a passion for transforming outdoor spaces, Bourne Brothers Landscaping offers a comprehensive range of services, from landscape design and lawn care to tree trimming and removal. Whether you’re looking to enhance curb appeal, maintain a lush green lawn, or ensure the health of your trees, Bourne Brothers is equipped to meet your needs.

“At Bourne Brothers Landscaping, we are committed to delivering top-notch results that exceed expectations,” said Zebuli Bourne, owner of the company. “We understand that each property is unique, and we take pride in providing personalized solutions that not only improve aesthetics but also add long-term value to our clients’ homes and businesses.”

With the team’s extensive experience and dedication to quality craftmanship and techniques, Bourne Brothers Landscaping has earned rave reviews and repeat business from satisfied clients throughout Clarksville. Their commitment to eco-friendly practices and exceptional customer service sets them apart from the competition.

Services Offered Include:

For property owners seeking reliable, efficient, and affordable landscaping solutions, Bourne Brothers Landscaping is the trusted partner they can count on.

To learn more about Bourne Brothers Landscaping or to schedule a free consultation, visit https://www.bournebrotherslandscaping.com/ or call 931-494-0087.

About Bourne Brothers Landscaping: Bourne Brothers Landscaping is a premier landscaping company serving Clarksville, TN, specializing in lawn care, tree services, and landscape design. With a commitment to quality and customer satisfaction, they offer tailored solutions for properties of all sizes.

Media Contact

Organization: Bourne Brothers Landscaping

Contact Person: Zebuli Bourne

Website: https://www.bournebrotherslandscaping.com/

Email: Send Email

Contact Number: +19314940087

Address: 1820 Northwind Dr, Clarksville, TN 37042, United States

City: Clarksville

State: Tennessee

Country: United States

Release Id: 18102418605

The post Meet the Top Landscaping Lawn Care and Tree Service Company in Clarksville TN appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Press Release

Mechanicsburg Chiropractic Clinic Enhances Well-being with Comprehensive Services for Pain Relief and Wellness

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36 mins ago

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October 18, 2024

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Central PA Spinal Health Chiropractic, LLC, led by Dr. Jason Fullmer, proudly offers a wide range of chiropractic services aimed at improving the health and well-being of patients in the Mechanicsburg area. Located at 130 Gettysburg Pike, the clinic focuses on preventive, restorative, and rehabilitative care, providing innovative treatments tailored to individual needs. 

Dr. Fullmer is a qualified and highly experienced chiropractor in Mechanicsburg, PA. He and his dedicated team are committed to delivering high-quality chiropractic care that goes beyond just pain management. Their approach emphasizes holistic health, helping patients understand how chiropractic care can contribute to overall wellness, not just symptom relief. At the heart of their services are chiropractic adjustments, spinal decompression, and treatments for chronic conditions such as headaches, scoliosis, knee pain, and back pain. Through these treatments, Central PA Spinal Health Chiropractic, LLC strives to offer a comfortable, gentle, and effective experience that leaves patients feeling better inside and out. 

Specialized Chiropractic Treatments 

Cold Laser Therapy 

As part of the clinic’s commitment to advanced technology, Cold Laser Therapy is offered for pain relief and tissue repair. This non-invasive procedure uses low-level lasers to promote cellular healing and reduce inflammation, making it a popular choice for those seeking an alternative to medication for pain management. 

Spinal Decompression 

Spinal decompression is a highly effective treatment for individuals suffering from back pain or conditions like herniated discs. Using gentle, targeted pressure, this technique helps relieve pressure on the spine, reducing pain and promoting natural healing. Dr. Fullmer and his team have seen significant success in using spinal decompression to improve patient outcomes. 

Scoliosis Treatment 

For patients suffering from scoliosis, Central PA Spinal Health Chiropractic offers specialized care to help manage and alleviate symptoms. By addressing spinal misalignments, the clinic supports long-term improvements in posture, mobility, and comfort for scoliosis patients of all ages. 

Headache and Migraine Relief 

Headaches, particularly migraines, are a common issue treated at the clinic. Chiropractic care can help alleviate headaches by correcting spinal misalignments and reducing tension in the neck and upper back. The team at Central PA Spinal Health Chiropractic takes a patient-centered approach, customizing treatment plans to reduce the frequency and intensity of headaches. 

Restorative and Preventative Care 

Myofascial Release 

In addition to chiropractic adjustments, the clinic offers Myofascial Release, a therapeutic technique that targets tight muscles and fascia to relieve pain and restore mobility. This technique is especially beneficial for patients suffering from chronic pain or stiffness related to injury or overuse. 

Pulsed Electromagnetic Field (PEMF) Therapy 

PEMF therapy is an innovative treatment offered at Central PA Spinal Health Chiropractic that uses electromagnetic waves to promote cellular repair and reduce pain. This therapy has shown promise in improving circulation, reducing inflammation, and aiding in the recovery of injuries. 

Nutritional Counseling 

Understanding that health extends beyond physical adjustments, the clinic also offers personalized nutritional protocols. Dr. Fullmer and his team provide guidance on proper diet and supplements to support overall wellness and complement chiropractic care. 

Comprehensive Wellness Approach 

The team at Central PA Spinal Health Chiropractic believes in a comprehensive wellness approach. This means offering more than just adjustments and pain relief treatments. They work with patients to create long-term health plans that may include therapeutic exercises, postural education, and ongoing wellness evaluations. Their goal is to equip patients with the tools and knowledge they need to live healthier, more active lives. 

Therapeutic Exercises 

To enhance the effects of chiropractic care, the clinic incorporates therapeutic exercises into treatment plans. These exercises help strengthen muscles, improve flexibility, and prevent future injuries, creating a robust support system for spinal health. 

Extremity Adjustments 

Beyond the spine, Dr. Fullmer specializes in extremity adjustments, targeting areas like the knees, shoulders, and wrists to address pain and improve joint mobility. This service is particularly beneficial for athletes and individuals with repetitive strain injuries. 

A Personalized Patient Experience 

Its commitment to personalized care sets Central PA Spinal Health Chiropractic apart. Each patient receives a tailored treatment plan based on their unique needs and health goals. The clinic strongly emphasizes patient education, ensuring that individuals are fully informed about their options and the potential benefits of chiropractic care. 

Dr. Fullmer and his team understand that patients are healing partners. By fostering open communication and trust, they create an environment where patients feel empowered to take control of their health. 

A Trusted Resource for Chiropractic Care in Mechanicsburg 

As a leading chiropractic care provider in Mechanicsburg, Central PA Spinal Health Chiropractic, LLC, is dedicated to delivering results that improve its patients’ physical and emotional well-being. Whether addressing chronic pain, recovering from an injury, or seeking preventative care, patients can expect compassionate, knowledgeable care that puts their needs first. 

Contact Information

 

Media Contact

Organization: Central PA Spinal Health Chiropractic, LLC

Contact Person: Dr. Jason Fullmer

Website: https://mechanicsburgchiropractor.com/

Email: Send Email

Contact Number: +17177664000

Address: 130 Gettysburg Pike , Mechanicsburg PA 17055

Country: United States

Release Id: 18102418611

The post Mechanicsburg Chiropractic Clinic Enhances Well-being with Comprehensive Services for Pain Relief and Wellness appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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