Israeli company eToro is once again planning to go public with a valuation of more than $3.5 billion, the brokerage's CEO Yoni Assia told the Financial Times. In its previous failed IPO attempt, eToro signed a $10.4 billion deal with a blank check firm, showing a massive reduction in valuation on the brokerage's part.
Although the broker primarily operates in the UK, its strategic consideration of the US for a public listing is driven by the market's significant liquidity. However, the broker has not ruled out London as a potential market for its public listing.
“Retail investors in the UK and Germany want to trade US stocks,” Assia told the publication. “We find that UK clients can also trade UK stocks, but very few of our international clients trade UK stocks. Something about the US market creates both a large liquidity pool and a deep knowledge of the assets that trade in the US.
Unlike the previous attempt, the broker is now considering an initial public offering (IPO). Despite Assia's confirmation, the broker has yet to reveal any details.
A strategic moment for the public listing
Headquartered in Israel, eToro has successfully expanded its operations into European markets, generating 70% of its revenue on the continent. Founded in 2007, it first made its name in the field of copy trading, but has since diversified its offering with stocks and cryptocurrencies.
The platform has approximately 3 million accounts and manages approximately $11.3 billion in customer assets.
eToro's intention to go public was revealed in 2021 when the broker signed a deal with Betsy Cohen's special purpose acquisition company. However, the deal fell through in July 2022 as the two sides were unable to reach a closing agreement despite extending the deadline several times.
After the failed reverse IPO merger attempt, eToro raised $250 million from investors including SoftBank and Ion Group at a valuation of $3.5 billion.
Assia's plan to take the company public is now fueled by current market conditions at their peak. It follows the Robinhood playbook that weathered the tech frenzy in 2021 for a New York listing. However, both companies have different priorities although they offer trading services.
“Unlike Robinhood, all their clients are based in the US (and) they did an IPO in the US, our clients are mainly European, UK and Asian,” Assia said. “Providing access to U.S. IPOs in European markets is a very different infrastructure.”
Israeli company eToro is once again planning to go public with a valuation of more than $3.5 billion, the brokerage's CEO Yoni Assia told the Financial Times. In its previous failed IPO attempt, eToro signed a $10.4 billion deal with a blank check firm, showing a massive reduction in valuation on the brokerage's part.
Although the broker primarily operates in the UK, its strategic consideration of the US for a public listing is driven by the market's significant liquidity. However, the broker has not ruled out London as a potential market for its public listing.
“Retail investors in the UK and Germany want to trade US stocks,” Assia told the publication. “We find that UK clients can also trade UK stocks, but very few of our international clients trade UK stocks. Something about the US market creates both a large liquidity pool and a deep knowledge of the assets that trade in the US.
Unlike the previous attempt, the broker is now considering an initial public offering (IPO). Despite Assia's confirmation, the broker has yet to reveal any details.
A strategic moment for the public listing
Headquartered in Israel, eToro has successfully expanded its operations into European markets, generating 70% of its revenue on the continent. Founded in 2007, it first made its name in the field of copy trading, but has since diversified its offering with stocks and cryptocurrencies.
The platform has approximately 3 million accounts and manages approximately $11.3 billion in customer assets.
eToro's intention to go public was revealed in 2021 when the broker signed a deal with Betsy Cohen's special purpose acquisition company. However, the deal fell through in July 2022 as the two sides were unable to reach a closing agreement despite extending the deadline several times.
After the failed reverse IPO merger attempt, eToro raised $250 million from investors including SoftBank and Ion Group at a valuation of $3.5 billion.
Assia's plan to take the company public is now fueled by current market conditions at their peak. It follows the Robinhood playbook that weathered the tech frenzy in 2021 for a New York listing. However, both companies have different priorities although they offer trading services.
“Unlike Robinhood, all their clients are based in the US (and) they did an IPO in the US, our clients are mainly European, UK and Asian,” Assia said. “Providing access to U.S. IPOs in European markets is a very different infrastructure.”