• Mon. Apr 15th, 2024

Ibotta, a technology company backed by Walmart, files for initial public offering

BySamantha Johnson

Mar 22, 2024
Ibotta, a technology company backed by Walmart, files for initial public offering

The founder and CEO of Ibotta, Bryan Leach, along with CTO Luke Swanson, marked a significant milestone on the first day of the Denver-based startup’s relaunch of their mobile app. This event signified a new chapter for the Walmart-backed digital marketing company.

In a recent filing, Ibotta announced their intentions to go public in the United States. The company, which boasts an impressive client list including PepsiCo, Nestle, and Coca-Cola, did not disclose the size of the offering. Their revenue grew substantially in 2023, reaching $320 million, with a net income margin increase of 12%.

Founded in 2011 by Bryan Leach, Ibotta helps brands connect with consumers through digital promotions and offers cash-back rewards on everyday purchases. The decision to move forward with their listing plans comes as IPOs in the US are experiencing a resurgence, driven by easing concerns over borrowing costs.

Ibotta plans to list its shares on the New York Stock Exchange under the symbol “IBTA”. Leading underwriters for the initial public offering include Goldman Sachs, Citigroup, and BofA Securities. This filing represents an exciting new chapter for Ibotta as they continue to grow and expand their presence in the digital marketing space.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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