Investment Platform eToro Acquires Portfolio Management Provider Bullsheet
The acquisition’s specific terms were not disclosed, but a source close to the sale indicated it was worth a few million euros.
Bullsheet, founded by Portuguese cousins Filipe Sommer and Joo Ramalho Carlos, is a portfolio management program that allows users to analyze their portfolios.
The cousins joined eToro in 2020 and quickly built a following, using social features that allow popular investors to exchange ideas and even have their transactions replicated by other users.
Bullsheet was then created particularly for eToro investors. Sommer and Ramalho Carlos will now work as part of the product development team to incorporate the program into the platform.
Yoni Assia, eToro’s co-founder and CEO, said in a statement:
“We believe there is a power in shared knowledge and that by transforming investing into a group effort we yield better results and become more successful together. João and Filipe share this ethos. They created Bullsheet to share the tools they developed as eToro users with other users.”
eToro, headquartered in Tel Aviv, Israel, has been in business since 2007, and its platform now has over 30 million registered users.
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