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Big Law

Robinhood Competitor, eToro, Set to Acquire Tech Startup Company, Gatsby, for $50M

Multi-asset social investment network and Robinhood competitor eToro has signed a definitive agreement to acquire Gatsby — a fintech startup which also aimed to go head to head against Robinhood — for $50 million in a cash and common stock deal.

Israel-based eToro told TechCrunch this week that it just received approval from FINRA, the Financial Industry Regulatory Authority, to move forward with the acquisition. The company first filed for regulatory approval in December of 2021.

Jeff Myers and Ryan Belanger-Saleh co-founded Gatsby, a commission-free options and stock-trading app aimed at younger traders, in 2018. The pair had one previous successful exit in Dealtable.com, a social data room platform. 

Read the source article at techcrunch.com

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