Economy & Politics

FinanceFWD Podcast “We’re Building a Business That Could Be Worth $ 10 Billion or $ 50 Billion”

Yoni Assia 2017 at a conference in Hong Kong.Cody Glenn / RISE / Sportsfile / licensed with CC BY 2.0

In the fintech world, the corona crisis has produced at least one clear winner industry: It’s the trading apps for Robinhood and Trade Republic. Etoro has also benefited: the Israeli trading platform founded in 2007, which has grown thanks to its social trading features, was able to double its business.

Here, too, it was above all millennials – rather inexperienced, younger investors – who were attracted by the wild ups and downs on the stock markets. Etoro took advantage of this with its omnipresent online advertising – and advertised, for example, the crashed share of the insolvent car rental company Hertz as a “market opportunity”.

Can you do that? And how much trust should you generally place in small investors? Yoni Assia has a clear opinion on this: “I am a big believer in private investors and their freedom ”, says the founder and CEO of Etoro. The platform now offers its users shares, ETFs, cryptocurrencies and speculative contracts for difference (so-called CFDs).

Etoro is set to grow even more in the future: a few months ago, the company took over the British provider Marq Millions, with whose help Etoro is now issuing debit cards. “We want to offer users a holistic experience, to stay longer on our platform and also to manage the funds with us that they want to spend.”

In the FinanceFWD podcast, Assia talks about …

… the history of eToro
… the topicality of the social trading idea
… dinner with Warren Buffett
… regulatory, technological and market-related challenges
… new competitors like Robinhood and Trade Republic
… careless millennials and their trust in private investors
… cryptocurrencies
… Marketing campaigns with Alec Baldwin
… the acquisition of Marq Millions and expansion of the business

The FinanceFWD podcast is also available on Spotify, Deezer or iTunes. If you like the format, we look forward to every positive rating!

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