Ibotta files for IPO and plans to list on the NYSE

Ibotta has filed a registration statement for its proposed initial public offering (IPO) with the Securities and Exchange Commission (SEC).

The number of shares and price range for the planned offering have not yet been determined, the provider of digital advertising and performance marketing solutions said on Friday (March 22). Press release.

Ibotta intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the symbol “IBTA,” the release said.

The Company's platform enables brands to offer digital promotions to more than 200 million consumers Ibotta Performance Network (IPN), a network of publishers that allows marketers to influence consumers' shopping habits and only pay when their campaigns directly result in a sale, the press release said. Since 2012, American buyers have earned $1.8 billion from the IPN.

PYMNTS reported in November that Ibotta was preparing for one initial public offering That could push the company's value to $2 billion or more. Ibotta was valued at $1 billion in a Series D funding round in 2019.

Ibotta is backed by Walmart and has more than 850 customers including PepsiCo, Nestle and Coca-Cola, Reuters reported Friday. The company's revenue increased 52% year-over-year in 2023 and its net profit margin increased 12%.

PYMNTS reported in February that Goldman Sachs said 2024 could mark a recovery for the company IPO marketThe investment banking firm's IPO issuance barometer rose to its highest level in two years.

If the pace of IPOs completed as of this report continues, it will exceed levels seen in 2022 and 2023, Goldman Sachs said.

In recent days there have been reports of possible IPOs by Chime Financial and Encyclopaedia Britannica.

This was reported on Friday Chime Financial plans to launch it initial public offering in 2025 after being considered an IPO candidate for years.

Encyclopaedia Britannica announced in January that it had confidentially filed with the SEC a draft registration statement relating to a proposed IPO. Bloomberg reported Monday that the company is seeking a valuation of about $1 billion and may launch its initial public offering as early as June.