Etoro Files for IPO With Tripled Revenue, 96% From Crypto Trading
News Bytes
Bitcoin.com
Etoro Files for IPO With Tripled Revenue, 96% From Crypto Trading
Israeli trading platform Etoro has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) in New York, revealing that its revenue tripled in 2024, with 96% of that revenue coming from cryptocurrency trading. Etoro reported a revenue of $12.6 billion and a net profit of $192 million last year, a significant increase from 2023’s revenue of $3.89 billion and net profit of $15.3 million.
The company aims to raise between $300 million and $400 million at a pre-money valuation of $4.5 billion, although previous reports indicated a target valuation of $5 billion. Etoro’s IPO plans follow a previous attempt in 2021 to merge with a SPAC, which was abandoned due to a downturn in the stock market. Major financial institutions, including Goldman Sachs and Citigroup, are serving as lead managing bookrunners for the offering.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings