WEBVTT - eToro CEO Yoni Assia Talks Going Public

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<v Speaker 1>As we joined now by e Toro's CEO, Sayni For

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<v Speaker 1>both Caroline and I, it's a little bit of a

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<v Speaker 1>sort of full circle story because I'd say over the

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<v Speaker 1>last decade or more, e Toro is a company we've

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<v Speaker 1>probably most consistently talked about. Finally you've gone public. Actually,

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<v Speaker 1>when share started trading it was well above fifty two bucks.

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<v Speaker 1>How does that feel for you?

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<v Speaker 2>It's an amazing feeling, you know. The last two weeks

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<v Speaker 2>on the road show, being inside capital markets here in

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<v Speaker 2>the US, now listing on ASDEK a super exciting journey.

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<v Speaker 2>Eighteen years in the making of building Etro, the world's

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<v Speaker 2>largest social investment in network canal. Our customers can tread

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<v Speaker 2>e Toro on ittorro.

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<v Speaker 1>Educate the audience that doesn't necessarily know about it. Toro,

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<v Speaker 1>what is the proportion of stock activity on the platform

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<v Speaker 1>versus say crypto? What is the mainstay of your business?

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<v Speaker 2>So we're doing both. Customers today on Eitorro can trade

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<v Speaker 2>stocks from over twenty different capital markets as well as

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<v Speaker 2>more than one hundred and thirty different crypto assets. We

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<v Speaker 2>started the business in Europe and the UK. Our largest

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<v Speaker 2>markets spend into Asia, UAE and now the US as well,

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<v Speaker 2>and our customers when they trade, they share of their

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<v Speaker 2>trading activity, and you can actually see the portfolios in

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<v Speaker 2>the trek record of our customers, and you can automatically

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<v Speaker 2>copy the most successful investors on the platform. So it's

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<v Speaker 2>not only about trading yourself, both crypto and stocks. It's

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<v Speaker 2>about being able to see others that are successful and

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<v Speaker 2>copy them automatically. And the ratio between stocks and crypto

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<v Speaker 2>changes in market dynamics. Last year, twenty five percent of

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<v Speaker 2>total net contribution was actually crypto trading activity. Years when

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<v Speaker 2>crypto was in a will run like before, sometimes it's

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<v Speaker 2>up to sixty two percent. It really changes with the markets.

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<v Speaker 3>We keep comparing you to Robin Hood and at the moment,

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<v Speaker 3>I mean you have a social nature of course, if

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<v Speaker 3>you are spelling out in the way that you can

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<v Speaker 3>copy those and invest like them. But with Robin Head

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<v Speaker 3>at a fifty two billion market cap and yourself at

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<v Speaker 3>a five billion as it currently stands, how do you

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<v Speaker 3>close that gap? How do you show that you're more

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<v Speaker 3>closing terms of competitors?

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<v Speaker 2>I think eventually a lot of great companies are aiming

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<v Speaker 2>at a very very big opportunity, which is the largest

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<v Speaker 2>generational transformation of wealth in history. Eighty four trillion dollars

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<v Speaker 2>here in the US are going to move from older

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<v Speaker 2>generations to younger generations. In Europe not that far behind,

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<v Speaker 2>sixty trillion dollars are going to move from older generations

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<v Speaker 2>to younger generations. And I believe that our generation expects

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<v Speaker 2>to trade, invest, and save in a digital native solution.

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<v Speaker 2>And we're providing more than just the ability to trade

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<v Speaker 2>directly in the markets through the copy trading pattern of technology.

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<v Speaker 2>We provide people to automatically copy top investors from all

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<v Speaker 2>around the world, as well as more than one hundred

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<v Speaker 2>different smart portfolios, where we actually have our own chief

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<v Speaker 2>investment office with sixteen market analysts across the globe who

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<v Speaker 2>help our customers basically find portfolios like Thematics driverless cars.

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<v Speaker 2>We're just launching our also market neutral strategies, learning from

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<v Speaker 2>the hedge funds I met here in New York. So

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<v Speaker 2>we're able to create more than just self directed trading,

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<v Speaker 2>but actually the entire world of investments through smart portfolios

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<v Speaker 2>and copy trader.

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<v Speaker 3>And that's as the business model MATURESI it's interesting that

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<v Speaker 3>you sort of said you've got yourself to a more

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<v Speaker 3>mature state than back in say twenty twenty one, when

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<v Speaker 3>you were looking at going public, Viris back, just tell

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<v Speaker 3>us how different it looks now. What happened then to

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<v Speaker 3>make you push to go for an IPO this time?

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<v Speaker 2>I think you know. We call twenty twenty two the

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<v Speaker 2>year of education. A lot of our customers learned that

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<v Speaker 2>markets don't always go up. And we were focused initially

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<v Speaker 2>in twenty two only one really growth at all costs strategy,

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<v Speaker 2>very sort of VC minded, let's just spend money to grow.

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<v Speaker 2>And I think what twenty twenty two taught us is

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<v Speaker 2>to change our strategy to profitable growth. And we've significantly

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<v Speaker 2>scale up profitability in ittro with more than three hundred

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<v Speaker 2>million dollars of adjusted to beta profit. So I think

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<v Speaker 2>that's the significant transition that we've done, is a private

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<v Speaker 2>market bring us to profitable growth, which is a strategy

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<v Speaker 2>that I believe is more fit to public markets.

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<v Speaker 3>There was a lot of demand and now we see

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<v Speaker 3>a lot of more IPO sideline waiting companies wanting to

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<v Speaker 3>follow your tracks. Johnny Asia, it's great to have you

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<v Speaker 3>back on the show. CEO v Toro, thank you