eToro Acquires Portfolio Management Tool BullSheet

The financial terms of the deal are unknown.

Both Bullsheet co-founders joined eToro as employees.

eToro announced on Thursday its acquisition of Bullsheet, a provider of portfolio management tools exclusively to eToro users. The platform was developed by two cousins, Filipe Sommer and João Ramalho Carlos.

Bullsheet is a tool specific to eToro users, allowing them to manage investment by analyzing and diversifying portfolios. eToro is now working to integrate BullSheet’s offerings into its platform.

“The Bullsheet story is a great example of the talent and passion within eToro’s global community. It’s the wisdom of the crowd in action,” said eToro’s Co-Founder and CEO, Yoni Assia. “[João and Filipe] created Bullsheet to share the tools they developed as eToro users with other users.”

Co-Founder Joined eToro

Sommer and Carlos joined eToro’s product development team as part of the acquisition deal.

The Co-Founders of BullSheet started the project in 2021 after joining eToro’s Popular Investor program in 2020 as users. Professionally, Sommer is a techie and worked as a Software Engineer at Accenture for three years until July 2022.

Carlos has seven years of experience working in marketing and product-based roles. He initially worked at the Lisbon office of McKinsey as a Business Analyst and later became the Head of Product at Plicca. Additionally, he worked at Naturea Petfoods for more than four years and parted as the Head of Digital Marketing and E-Commerce. On top of that, he was a Performance Marketing Lead at Kenjo for over a year.

Carlos said: “We are thrilled to have made the transition from eToro users to eToro employees. eToro’s mission is to provide users with the tools they need to grow their knowledge and wealth as part of a global community. We are excited to play our part in ensuring that eToro maintains its reputation for delivering innovative tools that help the retail investor.”

Meanwhile, eToro is expanding its global presence aggressively. Furthermore, it gained an in-principal license from Abu Dhabi last month. The broker even acquired Gatsby, a commission-free options and stock trading firm in the United States, for $50 million.