eToro lays off 100+ Employees – 6% Workforce

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eToro – Social stock & crypto trading platform that focuses on providing financial and copy trading services has announced to lay off 6% of its workforce, around 100+ Employees.

The company is looking for a fresh funding round to infuse with more cash at a 50% lower valuation than it did one year ago. The company had also announced its termination of $10bn SPAC merger in a mutual agreement with its acquisition firm.

eToro is reportedly looking for a private funding round between $800mn & $1bn, valuing the Israeli company at $5bn. 

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