Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 91

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 91
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 42ndStreet, 18thFloor New York, NY 10168.

For a discussion of our principal capital
expenditures and divestitures, refer to Item 4. “ Information on the Company - Property, Plants and Equipment” and Item
5. “ Operating and Financial Review and Prospects - Liquidity and Capital Resources” in this Annual Report.

  Business Overview  

Our Company

Marti is Türkiye’s leading urban mobility
platform, helping to solve the country’s transportation needs through tech-enabled services powered by a single mobility super app.

Marti aims to offer tech-enabled urban transportation
services to riders across Türkiye through two service offerings in the country’s major metropolitan areas: ride-hailing and
two-wheeled electric vehicles. Our ride-hailing service matches riders with car, motorcycle, and taxi drivers. Our two-wheeled electric
vehicle service offers a shared mobility solution through a Company-owned and operated fleet of e-mopeds, e-bikes and e-scooters, with
each transportation modality serving different distances, comfort levels, and price points. We are continuously exploring new service
offerings to expand our customer base and establish ourselves as the preferred solution for all mobility needs.

Marti is the number one urban mobility app in
Türkiye across iOS and Android, as measured by the total number of downloads among all apps in the urban mobility and ride-hailing
and sharing, taxi-hailing and sharing category of both stores which serve within city rather than between city transportation.

Marti first launched its ride-hailing
operations in October 2022, with car-hailing and motorcycle-hailing, later expanding to include taxi-hailing in February 2024. Since
launch, our ride-hailing operations have rapidly grown into an at scale ride-hailing operator, delivering millions of rides through
our technology-driven platform. In the first two years, we did not charge for our ride-hailing service, but rather managed our
ride-hailing operations focused primarily on the growth of its operations through a dedicated team. In October 2024, we began
monetizing our ride-hailing service in the form of driver subscription packages in which drivers may purchase the right to receive
ride requests from riders. In January 2025, we launched a dynamic pricing model designed to improve service efficiency and enhance
rider and driver satisfaction in our ride-hailing service by offering real-time fare adjustments and enhanced earnings for drivers
based on supply and demand and reduced rider wait times