Israeli trading platform eToro (NASDAQ: EMT) started selling Wall Street yesterday. Part of the part ended on the first day of NASDAQ up to 28.85% of $ 67, which gives a market cap of $ 5.419 billion. Ing after the time selling the price on about 1.49%.
Israel describes Israel Angel Investor Eddy Shalev describes ETOR’s flotation “the end of a 20-year journey.” After many twists and turns, Etoro completed the IPO to a company valuation of $ 4.3 billion, 10% higher than the targeted target.
In flotation, Eto has increased $ 620 million ($ 713 million perfect digestion) from a range of institors in the United States, led by Blackrock. About half the proceeds from the ipo will fill the company’s coffers, with the remainder pouring into the pockets of its founders – Brothers Yoni and Ronen Assia and their partner David Ring, and long-time shareholders from Israel and abroad. It includes Nir and Eli Barkat with brothers Nir and Eli Barsat and Shalev, who was in the first leverage of the company, “Venture-free-day funds and from there businessmen in technology and from there the shared adventure of technology. “
The person who knows the potential is Santo Politi, a US businessman and US cofounder moving the capital spark spark capital, which invests twitter in the first stages. In fact, according to Shalev, they are the only institutional body to invest in the company, who receives support from private investors and strategic funds.
Within years, Eator’s activities have been extended and began to offer trade services with additional channels such as stocks, commodities and choices and options and options. Etoro’s business history has come when the company includes the idea of social networks in trade platform, which later becomes the company sign. Indeed, Etor let investors follow the investments to other users, and even imitating them in part or completely.
Today, almost 20 years after being established, EToro has 3.58 million payers from 75 counts of 2024. Because of the positive conditions of 2024. According to the positive conditions of 2024. Accumulating the number of 2024.
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Due to the reduction in income, Eator is referring to net contribution, a number showing income from trade fees, which is expected to continue to grow in the first quarter of 2025, which is easier in the market. Estimated $ 214-217 million, about 7% (mid-range) compared to the corresponding quarter. Growth is explained by increasing trade volumes with investors together in stocks, commodities and currencies, as well as an increase in income in interest.
A strong business interval by EToro is also early entering the Digital Currency field, which earns momentum for many years. At the beginning of Etoro’s journey, only 2% of customers are interested and active in cryptocurrencies. The large turning point came in 2017, with the addition of the etherum coin to the platform and the amount of jumping from about $ 10 to $ 400 in just six months. After this, the company added other cryptocurrencies such as ripple, stellar, neo and dash, and by the end of 2017, about 90% of customers selling cryptocurrencies.
The big winners
To IPO the builders sell parts. Yoni Assia sells about $ 28.5 million and Ronen Assia for $ 13 million. After sale, Yoni Assia holds parts worth about $ 339 million (before the increase in the first day of marketing), and Ronen Assia has parts worth about $ 115 million. Other builder, David ring, sold parts of $ 9 million and after offering leave a stake worth $ 118 million. The relatives of the builders benefit from offering. David Assia, father of Yoni and Ronen and former CEO and co-founder of Magic, sold for $ 3.3 million, and remained worth $ 45.7 million; Iangels, the venture capital platform in Mor Ass (Yoni’s wife) and his companion Shelly Hod Moyal, sold parts worth $ 33.1 million.
Another beneficiary of the offering of Etoro is the group of Etora and Nir Barkat and their companion Yuval Rakavy, who invested in the company at an early stage. The group, holding about 9% to IPO, sold parts of about $ 22 million, according to the prospectus, which is the amount enlarged in the amount issued by the Profectus. After IPO, Brm still targets parts worth about $ 320 million.
Some who support significant offer values is the spark capital, selling parts of $ 34 million, selling parts of the $ 16 million, according to the parts of the prospectus.
The bundles on the road
There are many streaks on EToro’s Wall Street. The company started business activities on the eve of the 2008 crisis of 2008 and experienced many challenges for almost two decades. Maybe its biggest is failing to issue parts of its 2021 tech boom.
At that time, Eetor attempted to list NASDAQ by a spac merger in a valuation of $ 10.4 billion, higher than the amount it received today. Due to the delay in completing unification and changes in market conditions, appreciation is cut for $ 8.8 billion, and finally canceled. In the latest private financial fiction of 2023, Etori received an appreciation of $ 3.5 billion.
Road blasts continue even after failed spac mergers. On September 2024, the company was forced to pay $ 1.5 million in US Securities and Exchange Commission (sec), as an unregistered broker and clearinghouse in the cryptocurrency sector.
At the same time, the company faced a case on August 2023 from the Australia Regulator, with no enough of the 20,000 local investors traded on CFDs – a financial instrument considered in many regulates worldwide.
In dealing with regulatory difficulties, Eto has established a risk management department under Hedva Ber, former supervisor of banks of Israel’s bank. The appointment is intended to reduce company friction to regulatory authorities in countries where it works, with understanding that it is one of the most important challenges to face.
Published in Globes, Israel News in News – en.globes.co.il – On May 15, 2025.
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