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This female founder achieved an IPO ‘first’ that has nothing to do with her gender

July 2, 2021, 12:55 PM UTC

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Good morning, Broadsheet readers! Wally Funk will join Jeff Bezos on a trip to space, activist investors go after GlaxoSmithKline, and an online retailer marks an IPO “first.” The Broadsheet will be off on Monday for July 4 in the U.S.—we’ll see you here on Tuesday.

– IPO first. Tech IPOs of female-founded companies are still rare. Besides Stitch Fix and Bumble, the list is pretty short.

An unexpected name joined that group yesterday when the Turkish online retailer Hepsiburada went public. Why unexpected? The business is the first Turkish company to list via Nasdaq.

Hepsiburada was founded 20 years ago by Hanzade Doğan Boyner, who today serves as chair and is the company’s majority shareholder, even after its public market debut. The founder comes from a well-known family in Turkey; she’s the daughter of billionaire Aydin Doğan.

And she’s proud that she achieved a “first” with her listing—one that has nothing to do with her gender. “It’s a national pride story,” she said in an interview from Istanbul on Thursday.

Hepsiburada’s market debut offered up only 20% of total shares at $12 apiece for a valuation of $3.9 billion; Doğan Boyner is holding onto her 21% stake and the other major shareholders are her family members and Franklin Resources.

The chair has big plans for the 20-year-old ecommerce company, from expanding beyond its home country to the Balkans and North Africa to increasing the share of shopping that takes place online from 10% in Turkey.

“From the day I started the company, I knew it was not only about laptops or books,” she says. Read more about Hepsiburada’s IPO here.

Plus: Fortune is soliciting nominations for our 2021 Change the World list. We’re looking for companies that are doing well by doing good, tackling society’s unmet needs—and earning a profit while doing so. Learn more about the list and nominate a company here by July 22. Email with any questions.

Emma Hinchliffe

The Broadsheet, Fortune’s newsletter for and about the world’s most powerful women, is coauthored by Kristen Bellstrom, Emma Hinchliffe, and Claire Zillman. Today’s edition was curated by Emma Hinchliffe


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"No one has waited longer. It’s time." 

-Jeff Bezos on Wally Funk, who will join him on a Blue Origin spaceflight. Funk, 82, is a pilot who was denied the job of astronaut in the 1960s because she was a woman. 

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