eToro is considering public listing after the SPAC merger plans were scrapped. CEO discusses the company's robust performance and strategic focus.
eToro forex broker has considered going public in a follow-up move after they called off their SPAC merger. Yoni Assia, the CEO, brought up the matter in a CNBC interview, where he explained that bankers and institutional investors show considerate involvement.
Contrary to the initial SPAC deal cancellation, this Israeli broker still presents a bullish agenda. In general, the service has about 35.5 million users, and the company predicts earning $630 million in revenues for 2023 – records that make it one of the most popular online platforms in the world.
Particularly, this FCA-regulated broker announced EBITDA near $100 million, a figure marking a strong figure of the company's retail brokerage division's performance.
It is the primary objective of this low-spread broker to achieve the integration of AI with the intent to improve the trading practice of a huge following. The emergence of Deep, a company competent in creation software, reminds the eToro forex broker's commitment to integrating AI into its systems.
Along with the other problems, this fast-execution broker did not lag with the implemented changes and closed the financial funding, including a $250 million investment. While facing market dynamics and variations in interest rates, Assia stays positive about the future of 2024.
While this multi-asset broker looks at routes to a public listing, it remains innovative and focused on the user experience. Such an approach prepares the broker for success in the often changing and challenging financial environment.
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