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ISTANBUL - Marti Technologies, Inc. (NYSE American: MRT), a mobility app company in Türkiye with a market capitalization of $186.8 million, announced Thursday the appointment of co-founder Cankut Durgun to the additional role of Chief Operating Officer, effective June 12, 2025. According to InvestingPro data, the company currently maintains a weak financial health score of 0.73.
Durgun, who has served as Marti’s President since co-founding the company in 2018, will maintain his current responsibilities while taking on oversight of day-to-day operations. His expanded role will focus on execution across the company’s ride-hailing and electric vehicle operations.
"I’m excited to further contribute to Marti’s operational excellence as we scale to meet the growing mobility demand in Türkiye," Durgun said in the press release statement.
Before co-founding Marti, Durgun was co-founder and general partner at venture capital firms Aslanoba Capital and Romulus Capital. He holds a Bachelor of Science degree in Economics and Management Science from Massachusetts Institute of Technology and an MBA from Stanford University.
Marti, founded in 2018, operates a ride-hailing service matching riders with car, motorcycle, and taxi drivers, while also managing a fleet of rental e-mopeds, e-bikes, and e-scooters. The company utilizes proprietary software systems and IoT infrastructure to support its services.
The information in this article is based on a company press release and enhanced with InvestingPro data.
In other recent news, Marti Technologies has reported surpassing its June 30, 2025, targets, achieving 2.15 million riders and 314,000 registered drivers by June 3. This marks a 12.7% increase in riders and an 8.3% rise in drivers from March 25 to June 3, 2025. The company has set new goals to reach 2.50 million riders and 350,000 drivers by September 30, 2025. In a move to bolster its growth, Marti has appointed Cenk Özeker as its new Chief Financial Officer, bringing over 25 years of experience in senior finance roles. Roth/MKM has initiated coverage on Marti Technologies with a Buy rating and a price target of $5.75, citing potential growth catalysts such as regulatory approvals and financial improvements. The analysts at Roth/MKM highlight Marti’s unique position as the sole operator of a multi-modal shared mobility network in its region. Additionally, Litchfield Hills Research has also given Marti Technologies a Buy rating with a price target of $7.00, based on its growth rate and market valuation. These developments underscore Marti’s ongoing expansion efforts and its potential for future growth in the mobility services sector.
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