eToro is diving headfirst into the IPO pool, and it’s making quite the splash. The trading platform has officially filed for an initial public offering in the U.S. Sure, they’re aiming for a valuation of $5 billion, which is a far cry from that ambitious $10.4 billion they dreamt of in 2022. But hey, at least they’re trying, right?
This isn’t their first rodeo either. eToro previously attempted to go public through a SPAC merger in 2021 but pulled the plug because, spoiler alert, the market was a disaster.
Now, let’s talk numbers. eToro reported a staggering $12.6 billion in revenue for 2024, up from a mere $3.89 billion the previous year. That’s a growth spurt that would make any teenager jealous.
eToro’s revenue skyrocketed to $12.6 billion in 2024, a jaw-dropping leap from just $3.89 billion the previous year!
But here’s the kicker: a whopping 96% of that revenue came from crypto assets. So, if you thought eToro was diversifying, think again. They’re riding the crypto wave, and it’s a wild ride. The surge in demand for platforms like eToro was fueled by Trump’s pro-crypto stance.]
The IPO will see shares listed on the Nasdaq under the ticker “ETOR.” With heavyweights like Goldman Sachs and Citigroup in their corner, eToro is clearly trying to attract the big fish. Their registration statement was submitted on Form F-1 to the SEC, signaling their commitment to the U.S. market.
But let’s not ignore the elephant in the room: regulatory issues. eToro recently agreed to a $1.5 million fine with the SEC. Ouch.
Despite the challenges, eToro’s user base is impressive. Over 38 million users spread across 75 countries. That’s a lot of potential investors who might just want to jump on the bandwagon.
They’re eyeing a listing as early as the second quarter of 2025. If the crypto market stays hot, eToro might just keep that revenue sky-high. But who knows? The market is fickle. Let’s see if they can keep up the momentum.
