According to a statement released recently, Walmart-backed digital marketing firm Ibotta has officially filed for an initial public offering (IPO) in the United States,
“The Denver-based company, which counts PepsiCo, Nestle, and Coca-Cola among its more than 850 clients, did not disclose the size of the offering.”
The filing revealed a notable growth trajectory for Ibotta, with a 52% year-on-year increase in revenue, reaching $320 million in 2023. Additionally, its net income margin expanded by 12%.
Established by Bryan Leach in 2011, Ibotta specializes in assisting brands in deploying digital promotions while providing consumers with cash-back incentives on their regular purchases.
Amid a resurgence of interest in initial public offerings in the United States, boosted by reduced concerns regarding borrowing costs, Ibotta is pushing forward with its IPO plans.
“Shares of Reddit Inc. and Astera Labs saw significant surges during their recent market debuts, signaling a renewed enthusiasm among companies and investors for IPOs following a nearly two-year slowdown.”
Ibotta intends to list its shares on the New York Stock Exchange under the ticker symbol “IBTA”. Leading the IPO as underwriters are Goldman Sachs, Citigroup, and BofA Securities.
