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eToro Said to Be in Talks With Goldman About Possible $5B IPO: Report
The crypto trading platform is also considering the possibility of a merger with a special purpose acquisition company, according to Israeli newspaper Calcalist.
Cryptocurrency trading and investment management platform eToro is considering going public in what would be a $5 billion IPO, according to a report by Israel-based news outlet Calcalist, which did not name any sources.
STORY CONTINUES BELOW
- Israel-based eToro is reportedly in talks with Goldman Sachs about possibly leading the offering, which would be completed by the end of Q2 2021.
- eToro is also considering the possibility of a merger with a special purpose acquisition company for the "purpose of accelerating entry into Wall Street trading," the report said.
- eToro has recruited 5 million new customers since the beginning of the year and is profitable, according to the report.
- The company declined to comment on the report, Calcalist said.
Read more: Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
