eToro Plans Wall Street Debut With IPO
eToro, a leading crypto trading firm and stock brokerage platform, is planning to go public after abandoning its merger plans with FinTech Acquisition Corp. CEO Yoni Assia has highlighted the company's strong revenue and profitability metrics, with $630 million in revenue reported for 2023 and $100 million in EBITDA achieved in the same year. eToro primarily generates revenue from trading-related fees and has a membership model called eToro Club. The company has also made strategic acquisitions, including Deep, a company specializing in content automation, and is committed to leveraging AI to enhance its product offerings and empower its user base.
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