Audiobook platform Dinlebi secures investment of over half million euros

Audiobook platform Dinlebi secures investment of over half million euros

Audiobook platform Dinlebi secures investment of over half million euros

Dinlebi, Turkey’s largest audiobook platform, has secured 515,000 euros of funding during its second seed round.

Dinlebi plans to use the investment to expand its userbase both in Turkey and in foreign markets, according to a company statement.

Having been established less than a year ago, Dinlebi continues to rapidly expand its operations. The platform, already Turkey’s leading audiobook platform in terms of active users and the size of its local content, is also attracting investors.

The second seed round was led by Adem Duman from CCW Teknoloji and includes such notable Turkish and international investors like Breakaway Partners, Doğan Yurttutmuş, Erdoğan Çoban, Mehmet Berke Merter and Mehmet Turgut Eltemur.

“Our first anniversary in September saw us reach a milestone of over 500,000 members and a catalog consisting of nearly 2,000 audiobooks. As part of our new global vision, thousands of new German and English audiobook titles will soon become available on Dinlebi. Our users will be able to access these titles in multiple languages,” Dinlebi co-founder Ahmet Yaman said.

Dinlebi, established by Ahmet Yaman, Dündar Hızal, Erdem Çelik and Cenk Gültekin, became operational in August 2020 and expanded its operations outside of Turkey in March 2021. This was followed by an agreement with Germany’s Telefonica/Ay Yıldız GSM operator to reach new users abroad.

It boasts nearly 2,000 Turkish audiobooks, from current bestsellers to timeless classics, and special titles exclusively commissioned for Dinlebi.

The global pandemic saw a 40 percent increase in audiobook consumption in Turkey. Audiobooks compromise 5 percent of the book market in the United States of America, 5.7 percent in the United Kingdom, and around 3 percent in Germany. In comparison, Turkey’s market is currently less than 1 percent.

As a result, the local market has serious growth potential in the near and long-term and as one of its major players, Dinlebi provides special services to its users in Turkey and abroad.