eToro, an Israeli-British cryptocurrency trading and brokerage company, is reportedly considering an initial public offering (IPO) next year, according to a report from Calcalist, a newspaper in Israel.
The report indicated that eToro is in
“eToro is targeting an IPO in the second quarter of 2021 after doubling its revenue to $500 million and gaining five million new customers in 2020x. It is currently in talks with investment bank Goldman Sachs regarding leading the IPO,” Calcalist reported.
The Israeli-British cryptocurrency trading and brokerage company’s valuation could be around $5 billion in an IPO.
eToro is popular and profitable
The newspaper noted that eToro is profitable. This year, its revenue doubled to $500 million. An institutional investor acquired more than $50 million worth of eToro shares in the secondary market, bringing its valuation to $2.5 billion.