Stock brokerage platform eToro is attracting interest from bankers and investors for its public market listing。eToro CEO Yoni Assia revealed in an interview with CNBC that the company decided to abandon plans to go public through a merger with a short company.。

Artificial Intelligence Integration: Transforming the Trading Experience

Assia said eToro is very interested in entering the public market: "I will definitely see us eventually become a public company."。"

While the timing of the listing is still being assessed, Assia stressed that eToro already has strong relationships with various exchanges, with a particular emphasis on its links to the Nasdaq stock exchange.。

eToro has 35.5 million registered users and more than 3 million funded accounts, with revenues of 6 in 2023..$300 million, close to the 2022 figure。Impressively, the company disclosed more than $100 million in earnings before interest, tax, depreciation and amortisation (EBITDA) for 2023, showing strong margins in the retail brokerage business.。

In a conversation with CNBC, Assia highlighted eToro's commitment to incorporating AI into its product experience, particularly in terms of investment and trading capabilities.。He noted that AI-related stocks are significant in eToro's user base, citing the growing interest in AI-driven innovations such as ChatGPT, developed by Microsoft-backed OpenAI.。

We're definitely looking at the public market: eToro CEO considering IPO after canceling SPAC deal https: / / t.co / c5UFrZQpLQ

CNBC (@ CNBC) February 26, 2024

Access to capital to withstand market dynamics

In reviewing eToro's initial SPAC merger plan, Assia acknowledged that valuable lessons had been gained from this experience.。Despite setbacks, eToro managed to get 2 in March 2023.$500 million in funding and is backed by SoftBank Vision Fund 2, ION Investment Group and Velvet Sea Ventures。

In recent years, the fintech industry has faced challenges due to interest rate fluctuations and market dynamics。However, Assia remains optimistic about the outlook for 2024, expecting market conditions to improve in the event of a possible Fed rate adjustment.。