Walmart-Backed Ibotta Files for IPO Showing Profitability

-- Digital marketing software firm Ibotta Inc. filed for an initial public offering on the heels of this week’s successful debuts by Reddit Inc. and Astera Labs Inc.What Happens If Trump Can’t Post His $454 Million Bond

Ibotta handles promotions for more than 2,400 brands, such as Coca-Cola, Whirlpool and Hallmark, according to its filing with the US Securities and Exchange Commission. The company had net income of $38 million on revenue of $320 million for last year, compared with a net loss of $55 million on revenue of $211 million the previous year, according to the filing.

Digital promotions now make up the majority of consumer promotions, with 87% of consumers’ grocery purchases being influenced by offers, discounts, and promotions, Leach said in a letter to investors included in the filing.

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