Ibotta IPO 2024: Today marks the public debut of another tech player: Ibotta Inc., a digital marketing platform renowned for offering cash-back rewards to customers shopping in-store or via retailer apps.
About IBOTTA
Founded in 2011 and headquartered in Denver, Ibotta is a leading digital marketing platform. Its flagship product, the Ibotta Performance Network (IPN), connects marketers with over 200 million customers through a network of publishers, enabling them to advertise and offer digital promotions.
These promotions allow customers to earn cash back on purchases made at a brand’s store or app, with the option to receive funds directly in their bank account or as a gift card.
Ibotta boasts that its users have collectively earned over $1.8 billion since 2012, leveraging its platform for savings. And yes, the name “Ibotta” is indeed a clever play on words (“I bought a…”).
IBOTTA Partners
Numerous brands collaborate with Ibotta, including industry giants like Home Depot, Best Buy, eBay, Old Navy, Sam’s Club, Kohl’s, and Walmart, among others.
IBOTTA IPO Date
Ibotta set its share price on Wednesday and anticipates listing its stock today, Thursday, April 18, 2024.
iBOTTA Ticker Symbol
Ibotta’s stock will trade under the ticker symbol IBTA.
Ibotta Exchange
Ibotta shares will be listed on the New York Stock Exchange (NYSE).
IBOTTA’S IPO Share Price
Priced at $88.00 per share, Ibotta’s IPO share price exceeds its initial $76-84 range.
Ibotta IPO Shares
A total of 6,560,700 IBTA shares will be up for grabs, with 4,060,700 being sold by existing Ibotta shareholders and 2,500,000 being sold by Ibotta itself.
IBOTTA IPO Fund Raising
Ibotta stands to collect proceeds solely from the sale of its 2.5 million shares. At $88 per share, this equates to $220 million in potential funds.
IBOTTA’S VALUATION
Considering all 6.56 million shares, Ibotta commands a market value of approximately $2.67 billion. However, factoring in stock options and restricted share units (RSUs), the company’s fully diluted valuation climbs closer to $3 billion, as highlighted by Yahoo Finance.
WALMART’S INVOLVEMENT WITH IBOTTA
Retail titan Walmart serves as both a client and financial supporter of Ibotta, underscoring its significant ties to the company’s success.
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