Will 'Martı' go public on the New York Stock Exchange?
Martı is an electric scooter sharing company that was founded in 2018 by Oğuz Alper Öktem and Sena Öktem and became operational in 2019. In 2022, Martı is expected to be offered to the public on the New York Stock Exchange using the SPAC method.
The information about this internet initiative, which is expected to show interest from investors, is as follows:
While Marti offers fast travel without the need for public transportation or vehicles in big cities such as Istanbul where traffic problems are intense, it saves time for its users by eliminating problems such as searching for a parking place. In addition, it offers a more environmentally friendly solution compared to other means of transportation by reducing carbon emissions.
What is a Marti?
Marti is an e-scooter sharing system serving the major cities of Turkey (Istanbul, Ankara, Izmir, Bursa, Yalova, Antalya, Eskişehir, Ordu and Gaziantep).
Electric scooter sharing startup Martı, which started its activities in Istanbul in March 2019, has been attracting attention since the day it entered the market. The system, which was initially in use only in Istanbul, continues to serve in many different cities, especially in Ankara and Izmir. The company aims to bring a brand new perspective to the transportation sector by reducing carbon emissions with the software they develop and the electric vehicles they use.
According to the information provided by Bloomberg, Martı will be offered to the public on the New York stock exchange. Martı, which has completed its agreement with the USA-based Galata Acquisition company for the SPAC agreement, is expected to perform its public offering in the future.
What is the public offering system with SPAC?
“Special Purpose Acquisition Companies” or SPAC for short.
The transaction is as it stands for: "Partnership for Merger Purposes."
In summary: Martı will merge with Galata Acquisition and go public on the New York Stock Exchange. The proceeds from the IPO are expected to be used to expand the company's electric vehicle fleet and expand its operating area.
Actually, Martı was not a new idea in 2019 when it started to serve in Turkey. After 2016, electric scooters emerged as a solution to the increasing vehicle traffic in the world's major cities. This service spread rapidly in the USA, especially in European countries such as France, Portugal and Belgium. Marti wrote a success story in Turkey.
What does Martı mean?
Martı means seagull in English. Since Istanbul is a seagull city, this name suits this service very well.