Walmart-backed tech firm Ibotta files for US IPO

Walmart-backed digital marketing company Ibotta has filed to slouch public in the US, it talked about in a submitting on Friday.

The Denver-essentially essentially based company, which counts PepsiCo, Nestle and Coca-Cola among its higher than 850 shoppers, did now not tell the dimensions of the offering.

Its income grew 52 per cent one year-on-one year to $320 million in 2023 whereas ranking earnings margin grew 12 per cent, the submitting showed.

Primarily based by Bryan Leach in 2011, the corporate helps manufacturers bring digital promotions and offers cash-again rewards to customers on their day to day purchases.

Ibotta is transferring forward with its listing plans at a time when initial public choices in the US are on the rebound thanks to easing concerns over elevated borrowing charges.

Shares of Reddit Inc and Astera Labs sky-rocketed of their debuts this week, additional encouraging corporations and investors to design to IPOs after a nearly two-one year lull.

Ibotta plans to checklist its shares on the Sleek York Inventory Substitute under the symbol “IBTA”.

Goldman Sachs, Citigroup and BofA Securities are the lead underwriters in the initial public offering.