Yoni Assia, co-founder and CEO, eToro Doron Letzter (eToro pic)
eToro, the Israeli startup that offers its clients a trading platform, is looking towards an IPO – an initial public offering. While no timetable has been set and no specific exchange mentioned, eToro CEO Yoni Assia told the Financial Times that it would be in the U.S. and that the company expects to come away with a $3.5 billion valuation.
“Retail investors in the UK and Germany want to trade US stocks,” Yoni Assia told the Financial Times. “We see that UK clients might trade also UK shares, but very few of our global clients would trade UK shares. Something in the US market creates a pool of both deep liquidity and deep awareness for those assets that are trading in the US.”
The eToro CEO also had some good news in general for Israel Startup Nation, still reeling from more than five months of war against the terrorist group Hamas, and the world economy as a whole pointing to high levels of trading activities.
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“We’re seeing levels of activity that we haven’t seen since 2021,” he said, and that was at a time when a boom hit as the world exited the Covid crisis.
“So far 2024 starts to feel a bit like 2021,” Assia added. “Markets are at all-time highs, we’ve seen a significant increase in engagement in stock trading.”
Founded in 2007 by Yoni and Ronen Assia, and David Ring, eToro developed a platform where users can invest in a variety of equities, commodities, indices, and cryptocurrencies. eToro is a global community of more than 27 million registered users who share their investment strategies. The platform enables users to easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
eToro calls itself the trading and investing platform that “empowers you to invest, share and learn,” with the vision of a world where “everyone can trade and invest in a simple and transparent way.”
Today eToro has over 35 million registered users from more than 100 countries.
