TechFlow news — On December 6, according to Bloomberg, sources revealed that eToro, an online brokerage offering cryptocurrency and stock trading, is working with Goldman Sachs Group on preparations for a U.S. initial public offering (IPO). eToro is considering going public as early as the second quarter, although this timeline could change. The company said its valuation at IPO could exceed $3.5 billion, the figure achieved in its last private funding round. Details such as the timing of the offering may still change, and more banks could be added to the process, the sources noted.
Previously, eToro had attempted to go public by merging with a special purpose acquisition company (SPAC) led by serial dealmaker Betsy Cohen at a $10.4 billion valuation. The two parties agreed to terminate the deal in 2022.
