Marti Technologies, Inc. (“Marti” or the “Company”) (NYSE
American: MRT), Türkiye’s leading mobility super app and only
multi-modal urban mobility provider, listed on the New York Stock
Exchange American (“NYSE”) in July of this year. Marti’s 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) & Türkiye Awards 2023.
The Bonds, Loans, and ESG Capital Markets event is a leading
corporate finance and investment banking event in emerging and
frontier markets across Eastern Europe, Middle East, Asia, South
America, and Africa. This year’s CEE, CIS & Türkiye event was
attended by finance ministries, large corporations, investment
banks, and legal firms across the region. Other awardees at this
year’s event included the Republic of Türkiye for its $2.5 billion
green bond issuance and the payments arm of Türkiye’s leading
telecommunications operator Turkcell for its 200 million TL sukuk
issuance.
Marti is an innovator in Türkiye’s urban transportation sector,
as the first company to introduce e-scooter rental services in the
country in 2019. Marti built on its track record of innovation by
being the first company to introduce e-bike and e-moped rental
services in Türkiye in 2021. Marti most recently launched its car
and motorcycle ride-hailing services in the country in 2022.
As of November 13, 2023, Marti’s ride-hailing service had
reached over 380,000 riders and over 90,000 registered drivers.
Over 70,000 of these drivers are in Türkiye’s largest city,
Istanbul. This is in contrast to 19,016 taxis serving the city.
These figures have already exceeded the year-end targets of 375,000
riders and 80,000 registered drivers which Marti set in June 2023,
and have been achieved a month and a half earlier than planned.
Encouraged by the growth in its rider and driver bases, Marti has
set revised targets for 450,000 riders and 100,000 registered
drivers by December 31, 2023.
Complementing its role as a pioneer in introducing innovative
urban transportation services in Türkiye, Marti’s July 2023 public
listing on the NYSE American marks the first direct listing of a
company in Türkiye on the NYSE. Marti hopes that this pioneering
transaction, now recognized as the International Equity Capital
Markets Deal of the Year in CEE, CIS & Türkiye’s Capital
Markets, serves as a model for other companies in Türkiye and the
region. Marti will continue to innovate by introducing and scaling
first of its kind services in Türkiye, and by performing first of
its kind financial transactions that clear the path for other
companies in Türkiye and the region.
About Marti Technologies, Inc.
Founded in 2018, Marti is Türkiye’s leading mobility app,
offering multiple transportation services to its riders. Marti
operates a ride-hailing service that matches riders with car and
motorcycle drivers, and operates a large fleet of rental e-mopeds,
e-bikes, and e-scooters. All of Marti’s offerings are serviced by
proprietary software systems and IoT infrastructure. For more
information visit www.marti.tech.
Cautionary Note Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, also known as the Private Securities Litigation Reform Act
of 1995. Any express or implied statements contained in this press
release that are not statements of historical fact and generally
relate to future events, hopes, intentions, strategies, or
performance may be deemed to be forward-looking statements,
including but without limitation statements regarding the
anticipated growth, including the number of riders and registered
drivers of the ride-hailing business, the full year 2023 updated
ride-hailing targets, the expected future performance and market
opportunities of Marti and the ride-hailing business, and the
Company’s ability to innovate and scale first of its kind services
and financial transactions. Words such as “expect,” “estimate,”
“project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,”
“may,” “will,” “could,” “should,” “might,” “possible,” “believe,”
“predict,” “potential,” “continue,” “aim,” “strive,” and similar
expressions may identify such forward-looking statements, but the
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from the expressed or implied
forwarding-looking statements, including, but not limited to: (i)
the effect of the public listing of our securities on our business
relationships, performance, financial condition and business
generally, (ii) risks that the business combination may disrupt our
current plans or divert management’s attention from our ongoing
business operations, (iii) the outcome of any legal proceedings
that may be instituted against us or our directors or officers
related to the business combination or otherwise, (iv) our ability
to maintain the listing of our securities on the NYSE American, (v)
volatility in the price of our securities due to a variety of
factors, including without limitation changes in the competitive
and highly regulated industries in which we plan to operate,
variations in competitors’ performance and success and changes in
laws and regulations affecting our business, (vi) our ability to
implement business plans, forecasts, and other expectations, and
identify opportunities, (vii) the risk of downturns in the highly
competitive tech-enabled mobility services industry, (viii) our
ability to build our brand and consumers’ recognition, acceptance
and adoption of our brand, (ix) the risk that we may not be able to
effectively manage our growth, including our design, research,
development and maintenance capabilities, (x) technological changes
and risks associated with doing business in an emerging market,
(xi) risks relating to our dependence on and use of certain
intellectual property and technology and (xii) and other important
factors discussed under the caption “Risk Factors” in the Company’s
preliminary prospectus filed with the Securities and Exchange
Commission (the “SEC”) on July 31, 2023, as such factors may be
updated from time to time in the Company’s other filings with the
SEC, accessible on the SEC’s website at www.sec.gov and the
Investors Relations section of Company’s website at
https://ir.marti.tech. Any investors should carefully consider the
risks and uncertainties described in the documents filed by the
Company from time to time with the SEC as most of the factors are
outside the Company’s control and are difficult to predict. As a
result, the Company’s actual results may differ from its
expectations, estimates and projections and consequently, such
forward-looking statements should not be relied upon as predictions
of future events. The Company cautions not to place undue reliance
upon any forward-looking statements, including projections, which
speak only as to management expectations and beliefs as of the date
they are made. The Company disclaims any obligation or undertaking
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than
to the extent required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231116736558/en/
Investor Contact Marti Technologies, Inc. Turgut Yilmaz
investor.relations@marti.tech
Marti Technologies (AMEX:MRT)
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