Brace yourself for a plot twist worthy of a Bridget Jones diary entry: eToro Group Ltd., Israel’s answer to “whatever Robinhood is doing, but slightly later,” is apparently dusting off its IPO plans and might go public in the U.S. next week, according to those always-surprisingly-chatty “people familiar with the matter.”
eToro originally hit pause on its big “Look at us, we’re trading for real now!” debut back in April, just as the market started hyperventilating over former President Donald Trump’s latest burst of economic wizardry—a.k.a. tariffs, tariffs everywhere. Nothing says “time to launch” like chaos, right?
After cautiously tiptoeing away from the edge (and presumably doing a few stress-relieving yoga classes), eToro is now eyeing a comeback because, well, Robinhood stock is up a juicy 16% in a month and FOMO is alive and well. The company had sneakily filed with the SEC in March, but “Liberation Day” volatility did that thing where it ruins everyone’s brunch plans—and IPOs.
For those just tuning in: eToro (founded in 2007, aka the glory days of MySpace) lets users trade stocks and crypto and copy their mate Dave’s suspiciously successful portfolio, all from a single app. They previously tried to go public via a SPAC at a $10.4 billion valuation; spoiler alert: didn’t happen. Favorite pastime? Citing big numbers: 2024 saw $931 million in commissions and $192 million in net income, versus 2023, when results could be summarized as “meh.”
‘ETOR’
Time for the “who’s who” of finance to step in—Goldman Sachs, Jefferies, UBS, and Citigroup are leading the charge, dragging eToro by the metaphorical hand to Nasdaq under the ticker “ETOR.” Bless.
This listing could be the first Lazarus act after the Trump-triggered IPO freeze. But let’s not forget the legal drama: eToro just coughed up $1.5 million to the SEC, promised to chill with the crypto offers stateside, and is now chasing that shiny, post-scandal redemption arc. We love a company with baggage.
Meanwhile, the crypto world is feeling euphoric—Bitcoin above $100,000, regulatory handcuffs possibly loosening thanks to Trump’s next chapter (what could possibly go wrong?).
The SoftBank Vision Fund 2 and ION Group-backed eToro wants to fetch a valuation north of $3.5 billion, because who doesn’t love an ambitious spreadsheet? Of course, if the market sneezes, it could all still be called off quicker than a second date with a man who “forgets” his wallet. Watch this space, preferably with popcorn. 🍿🚀💸
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2025-05-02 20:59