How many people do you know who would turn down a guaranteed future with a diploma from one of the world's most prestigious business schools? Demet Mutlu did exactly that: She left her MBA at Harvard Business School and invested all her savings into an idea no one in Turkey believed in yet—selling clothes online.
She graduated from New York University with the highest GPA in the economics department. She worked as a brand manager at major companies such as Altria, Procter & Gamble, and Reckitt Benckiser. She started at Harvard in 2008. But seeing the explosive potential of online shopping in Turkey, she left school and founded Trendyol with her personal savings of $300,000.
From dining table to 'decacorn'
Trendyol was literally born on a dining table. But its growth was breathtaking: it reached $150 million in revenue in the first 16 months. In 2018, with investment from Chinese giant Alibaba, Trendyol became Turkey's first 'unicorn' — the first startup to reach a valuation of $1 billion. In 2021, a $1.5 billion round led by SoftBank and General Atlantic pushed its value to $16.5 billion, earning it the title of Turkey's first 'decacorn'.
Milestones
- Graduated from NYU as the top student in the economics department.
- Left Harvard MBA and founded Trendyol with $300,000.
- Reached $150 million in revenue in the first 16 months.
- Became Turkey's first unicorn with Alibaba investment in 2018.
- In 2021, became the first 'decacorn' with a valuation of $16.5 billion.
- Also founded Peak Games; the company was sold to Zynga for $1.8 billion.
Not just a company, but a door
Mutlu did not just grow a company; she opened a door for the female entrepreneurs who came after her. At Trendyol, half of the leadership positions are held by women; programs like 'Women Write the Future' have provided e-commerce training to thousands of women. Mutlu was the only Turkish national selected for the World Economic Forum's Young Global Leaders list.
'Having the right components,' says Mutlu when describing her success: learning finance, learning to convince investors, understanding the consumer, managing a team, building a supply chain...
Today, Trendyol is a giant digital ecosystem delivering to 27 European countries from Germany to the UK, with millions of customers. And Demet Mutlu has proven something far more valuable than a Harvard diploma: sometimes the greatest investment is belief in your own idea.
