eToro considers public listing following abandonment of SPAC merger plans

eToro, the popular stock brokerage platform, is now eyeing a potential public listing, drawing attention from bankers and investors alike. This decision comes after the company opted out of its previously planned merger with a blank-check firm, as revealed by eToro CEO Yoni Assia in an interview with CNBC.

Assia expressed eToro’s strong interest in entering the public markets, stating, “I definitely see us becoming eventually a public company.” While the exact timing for the listing is still being evaluated, Assia emphasized the firm’s solid relationships with various exchanges, particularly highlighting its ties with the Nasdaq stock exchange.

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With an impressive 35.5 million registered users and over 3 million funded accounts, eToro reported revenues of $630 million in 2023, closely mirroring its figures from 2022. Notably, the company disclosed an EBITDA of over $100 million for 2023, showcasing a strong margin for a retail brokerage business.

eToro’s revenue primarily stems from trading fees and non-trading activities. Moreover, the company recently announced its acquisition of Deep, a company specializing in content automation. This move underscores eToro’s strategic focus on leveraging AI technologies for content creation and marketing efforts.

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