Andranik Hakobyan
Digital marketing company Ibotta (IBTA) aims to raise approximately $551 million in an expanded initial public offering. The company and certain existing shareholders plan to sell a combined 6.56 million shares at an expected range of $76 to $84 per share.Evaluation of Ibotta (IBTA) If the IPO price is within the expected range, it could exceed $2.5 billion.
Ibotta (IBTA) says in its IPO filing that its technology will enable consumer brands to offer digital promotions to more than 200 million consumers through a single convenient network called the Ibotta Performance Network. The Denver-based company is one of the nation's largest digital He stated that he has built a product-level promotion network. ), Dollar General Corporation (DG). The technology platform uses an AI-enabled offer engine designed to match and deliver the right offer to the right consumer at the right time.
On the financial front, Ibotta (IBTA) reported total revenue of $320 million in 2023, up from $211 million in 2022, a 52% year-over-year increase. The company reported a loss in 2022, but its net income in 2023 was $38 million.
Ibotta (IBTA) backers include Walmart (WMT), Koch Disruptive Industries, GGV Capital, Harbor Spring Capital, and Haystack Partners.
