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eToro, a leading social trading and investment platform, is considering a potential initial public offering (IPO) after previously scrapping plans to go public via a special purpose acquisition company (SPAC) merger. The company, which allows users to buy and sell stocks, cryptocurrencies, and other financial instruments, has reported strong financial performance, with $630 million in revenue for 2023 and over $100 million in EBITDA.
CEO Yoni Assia has expressed interest in pursuing a public listing, stating that eToro is "definitely eyeing the public markets." The company has already taken steps toward becoming a public entity, including building relationships with exchanges like Nasdaq. However, the timing of a potential IPO remains uncertain, with Assia emphasizing the importance of finding the right opportunity and market conditions.
eToro's user base has grown significantly, with 35.5 million registered users and over 3 million funded accounts. The platform has also surpassed $10 billion in total customer assets under administration. These metrics, combined with the company's profitability, could make it an attractive option for investors seeking exposure to the fintech sector.
The company's previous SPAC merger plans, which would have valued eToro at $8.8 billion, were shelved in 2022. Since then, eToro has raised $250 million in a funding round that valued the company at $3.5 billion. The firm has also conducted a secondary share sale, allowing early employees and investors to sell $120 million worth of stock to existing shareholders.
As eToro continues to evaluate its options for going public, the company is focusing on product development and expanding its offerings, including integrating artificial intelligence into its platform. The potential IPO will likely depend on various factors, including market conditions, investor appetite for fintech stocks, and the company's continued financial performance.
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While eToro's IPO prospects remain uncertain, investors eager to gain exposure to innovative fintech companies don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies, including potential leaders in the online trading and investment platform space. Our platform allows you to diversify your portfolio with lower minimum investments in promising companies before they go public, potentially benefiting from their growth and innovation in the fintech sector.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
