Ibotta Targets $472.5 Million IPO, Eyes $2.3 Billion Valuation

The digital promotions platform, backed by Walmart, reports profitability and plans NYSE listing under 'IBTA'.

Ibotta, backed by Walmart, seeks to raise up to $472.5 million in its IPO, aiming for a valuation of around $2.3 billion.
The IPO consists of 5.625 million shares, with a price range of $76 to $84 per share, set to trade on the NYSE under the ticker symbol 'IBTA'.
Ibotta turned a profit in 2023, reporting a net income of $38.1 million, up from a $54.9 million loss in 2022, and generated $320 million in revenue.
The platform connects brands with consumers through digital promotions, leveraging AI technology to personalize offers, and has partnerships with major retailers like Walmart.
Recent studies indicate a high consumer interest in personalized offers, though nearly half find the offers they receive irrelevant, highlighting a potential growth area for Ibotta.