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Broker eToro and the road to the public market.

Today I read an interesting article on a broker I use myself, so I have to share it here with you, as some of you use it too. The broker has wanted to go public in the past, now it is starting to talk about it again and it is no longer a question of if, but just when? The company announced that it achieved over $100 million in EBITDA (earnings before interest, taxes, depreciation and amortization) on revenues of $630 million.

Recently, the eToro stock exchange has been getting a lot of attention from bankers and investors who have been following its plans to go public. Although the original plans to go public via a merger fell through, CEO Yoni Assia has a clear vision: "We are definitely pursuing the public markets. I definitely see us eventually becoming a public company."

With more than 35.5 million registered users and over 3 million funded accounts, eToro will record an impressive $630 million in revenue in 2023. Despite a challenging period for fintech, the company has established itself as a major player in the market.

The key to eToro's success is innovation. The company recently acquired Deep, a company specializing in content automation, and plans to focus even more on this area in 2024. With the help of artificial intelligence integrated into content and marketing, eToro is able to provide its users with better and personalized experiences.

Although plans to go public through SPAC have been postponed, eToro has received significant investment, which is strengthening it in its efforts to innovate and move forward. After a challenging period following the rise in interest rates, financial technology companies are beginning to fare better in the public markets.

Yoni Assia points out that eToro has been focusing intensely on products and improving the business experience for its users in 2023. Although 2022 was an educational year in which investors had to learn that markets don't always go up, 2023 was arguably an educational year for the entire world.

As the financial technology market recovers from recent challenges, eToro is looking ahead with optimism. With plans to innovate and a focus on the needs of its users, the company is well positioned for the next phase of its evolution and its journey to the public market.

One more addition to explain the meaning of SPAC:

SPAC (Special Purpose Acquisition Company) is a type of investment vehicle, also known as a "blank check company" or "listed shell". It is a publicly traded company that is formed with the sole purpose of finding another company to acquire and bring to the public market. Essentially, a SPAC raises money through an IPO (Initial Public Offering) to fund future acquisitions.

That said, eToro planned to merge with an existing SPAC, which would allow it to go public more quickly and easily without going through the traditional IPO process. Ultimately, however, those plans were shelved and eToro acquired the investment through other means. Which I personally find better.

So yeah, as always I'm interested in your opinions, especially here because I use the broker myself for long term investing and I'm satisfied. Of course it is not the only good broker. And how do you feel about your broker being on the stock market, is it better or worse? 😊


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