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eToro eyes for potential IPO with valuation of over USD 3.5 billion

Retail Trading Infrastructure

Mar 10, 2024

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Mar 10, 2024

eToro eyes for potential IPO with valuation of over USD 3.5 billion

Listing

eToro, an Israel-based online trading platform, is considering a US listing with a valuation of over USD 3.5 billion, despite the UK being its largest market.
Yoni Assia (founder and CEO) states that the company is considering a New York or London listing as retail trading volumes have recently peaked at levels similar to during the meme stock frenzy of 2021.
He also favors a US listing due to better access to a broader range of investors and a US market liquidity pool than a presence on the UK market, even though nearly 70% of eToro’s revenue has been generated from trading across Europe.
Analyst QuickTake: eToro and Betsy Cohen-backed blank-check company FinTech Acquisition Corp (FTCV.O) mutually agreed to terminate their SPAC merger deal in 2022, amidst a 15% drop in eToro’s valuation to USD 8.8 billion. eToro’s anticipated direct listing plan follows another online trading platform, WeBull, announcing plans to go public via a SPAC deal with SK Growth Opportunities Corporation (NASDAQ: SKGR) with an implied pro forma enterprise value of approximately USD 7.3 billion.

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