ibotta

ibotta

Shopping rewards app offering cash-back incentives

About ibotta

Simplify's Rating
Why ibotta is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Consumer Software

Consumer Goods

Company Size

501-1,000

Company Stage

IPO

Total Funding

$58.4M

Headquarters

Denver, Colorado

Founded

2012

Overview

Ibotta operates a shopping rewards app that connects brands with millennial consumers by offering cash-back rewards for purchases. Users earn cash back by shopping at partner retailers, which encourages them to shop more frequently and spend more per visit. Brands and retailers collaborate with Ibotta to promote their products through targeted advertising within the app, especially during major shopping events like Black Friday. Ibotta generates revenue by charging these brands for featured placements and marketing campaigns designed to enhance sales and customer engagement. Unlike its competitors, Ibotta focuses on providing insights and tools that help brands understand consumer behavior, making it a valuable partner in their marketing efforts. The goal of Ibotta is to drive incremental sales for brands while enhancing the shopping experience for consumers.

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Simplify's Take

What believers are saying

  • Ibotta's user base grew by 158%, indicating strong consumer engagement.
  • Partnerships with major retailers like Walmart and Instacart boost Ibotta's market reach.
  • Winning the MarTech Breakthrough Award highlights Ibotta's innovation in performance marketing.

What critics are saying

  • Increased competition from platforms like Rakuten and Honey could dilute market share.
  • Reliance on major retailers means disruptions could significantly impact revenue.
  • Rapid expansion in Denver may lead to increased operational costs and financial strain.

What makes ibotta unique

  • Ibotta offers cash-back rewards, incentivizing frequent shopping and larger purchases.
  • The Ibotta Performance Network delivers coordinated promotions across multiple platforms.
  • Ibotta connects brands with millions of millennial consumers, enhancing brand awareness and sales.

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Funding

Total Funding

$58.4M

Below

Industry Average

Funded Over

3 Rounds

IPO funding comparison data is currently unavailable. We're working to provide this information soon!
IPO Funding Comparison
Coming Soon

Benefits

Parental leave

Onsite gym

Dinner perk

Healthcare coverage

Culture club

401(k) match

Team wide bonus

Flexible time off

Equity

Lifestyle spending account

Growth & Insights and Company News

Headcount

6 month growth

↑ 0%

1 year growth

↑ 0%

2 year growth

↑ 0%
Grocery Dive
Jan 7th, 2025
DoorDash enters deal with Ibotta to expand digital promotions offering

DoorDash enters deal with Ibotta to expand digital promotions offering.

Business Wire
Dec 23rd, 2024
Ibotta Appoints Chris Riedy as new Chief Revenue Officer

Ibotta appoints Chris Riedy as new Chief Revenue Officer.

Intelligence360
Nov 28th, 2024
Ibotta To Expand Into 85,000 Square Feet Of Space In Denver Colorado.

Ibotta to expand into 85,000 square feet of space in Denver Colorado. Ibotta to expand into 85,000 square feet of space in Denver Colorado.Denver, Colorado — According to state and local development sources, Ibotta plans to build out 85,000 square feet of new space in Denver. The company plans to occupy the new space at 1400 16th St. in Denver, on or about September 1, 2025. According to the company website Built in Denver, CO, Ibotta (NYSE: IBTA) is a performance marketing platform allowing brands to deliver digital promotions to over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop all while paying only when their campaigns directly result in a sale

GlobeNewswire
Aug 20th, 2024
Ibotta Captures Top Spot In 2024 Martech Breakthrough Awards

DENVER, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Ibotta (NYSE: IBTA), the leading technology company providing digital promotions and performance marketing solutions, today announced that the Ibotta Performance Network (IPN) has been selected as winner of the “Performance Marketing Innovation Award” in the 7th annual MarTech Breakthrough Awards. The annual awards program is conducted by MarTech Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global marketing, sales and advertising technology industry. The Ibotta Performance Network (IPN) is the first digital network that delivers promotions in a coordinated fashion across retailer platforms, large third-party publisher sites and Ibotta’s direct-to-consumer properties. The IPN, which boasts a wide range of third party publishers including Walmart and Instacart, among many others, allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $2 billion through the IPN since 2012

Supermarket News
Aug 15th, 2024
Ibotta grows its user base by 158%, partners with Instacart

During the second quarter, Ibotta launched its upgraded digital coupon program with Family Dollar, making Ibotta the exclusive provider of digital promotions for the retailer.

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