eToro Chasing Big Deals with $1.2 Billion Cash Reserve
With a $1.2 billion cash reserve from its initial public offering (IPO) on Nasdaq, eToro is preparing for a massive acquisition to expand its business and enhance its global competitiveness.
With a cash infusion of $1.2 billion from its stock listing on Nasdaq, eToro forex broker is ready to make a big move. This eToro forex broker, which went public in May with the stock code ETOR, plans to accelerate acquisitions, with more ambitious targets than previous deals.
This strategy comes after eToro received $250 million in funding from investors such as ION Group and SoftBank Vision Fund 2 in March 2023, paving the way for its official listing on Nasdaq with a $3.5 billion valuation. This successful IPO followed the cancellation of a $10.4 billion SPAC merger deal in 2022.
Over the past few years, eToro has been busy expanding its technology and services, reducing its reliance on often fluctuating retail trading markets. Their strategic acquisitions have been key to this growth. In 2019, they bought Firmo for smart contract technology and Delta for crypto tracking.
The following year, they acquired Marq Millions, which became eToro Money, allowing them to offer debit card services. More recently, in 2022, they acquired Bullsheet, a community portfolio tool. A year later, they added the popular US stock and options app Gatsby to their portfolio.
Their most significant move was in 2024 with the acquisition of Spaceship Australia for up to A$80 million, a deal that brought them into the long-term savings and retirement sector.
Although it already has more than 35 million registered users, eToro continues to actively seek opportunities to expand its market and develop its product offerings globally.