Denver-Based Ibotta Raises $577.3M in Walmart-Backed Oversubscribed IPO

Apr 17, 2024, 11:07 PM

Ibotta, Inc., a Denver-based digital marketing software firm and unicorn, successfully raised approximately $577.3 million in its IPO, surpassing its initial target of $551 million. The company, which is backed by Walmart, attracted strong investor interest, prompting an increase in the deal size. Ibotta reported $320.04 million in trailing twelve months (TTM) revenue and a 51.89% year-over-year revenue growth. The IPO was part of a broader strategy to capitalize on its AI-enhanced digital marketing capabilities.