Non-Controlling Interests |
6 Months Ended |
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Jun. 30, 2025 | |
| Noncontrolling Interest [Abstract] | |
| Non-Controlling Interests | Note 11 – Non-Controlling Interests Freight Holding As of both December 31, 2024 and June 30, 2025, we owned 84% of our subsidiary Freight Holding’s capital stock, or 80% and 78%, respectively, on a fully-diluted basis. The minority stockholders of Freight Holding include, among others: (i) holders of Freight Holding’s Series A and A-1 Preferred Stock; (ii) holders of common equity awards issued under the employee equity incentive plans; and (iii) current and former employees who hold fully vested shares. Freight Holding Supplier Financing Program Freight Holding utilizes a third-party financial institution that allows our suppliers to be paid by the third-party financial institution earlier than the due date on the applicable invoice at a discounted price. In general, supplier invoices financed by the third-party financial institution are due for payment by Freight Holding within 30 days. As of December 31, 2024 and June 30, 2025, the liability related to the supplier financing program was immaterial and the amounts are included within accounts payable on the condensed consolidated balance sheets. Trendyol GO On June 17, 2025, we closed the acquisition of an 85% controlling stake in Trendyol GO. Refer to Note 12 – Business Combinations for further information. As of June 30, 2025, the non-controlling interest in Trendyol GO was classified as redeemable non-controlling interest as it is subject to a put/call agreement that is not solely within our control. The put or call is exercisable in the first quarter of 2031. At each balance sheet date, the carrying value of the redeemable non-controlling interest will be adjusted to the estimated redemption value. There were no adjustments as of June 30, 2025.
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