Ibotta Inc. - Company Research Report
Company Overview
Name, Mission of the Company
Name: Ibotta, Inc.
Mission: To Make Every Purchase Rewarding by providing technology that allows CPG brands to deliver digital promotions to over 200 million consumers through the Ibotta Performance Network (IPN).
Founding Details
Founded In: 2012
Founder: Bryan Leach
Key People
- Bryan Leach: Founder & Chief Executive Officer
- Sunit Patel: Chief Financial Officer
- Luke Swanson: Chief Technology Officer
- Amir El Tabib: Chief Business Development Officer
- Marisa Daspit: Chief People Officer
- Rich Donahue: Chief Marketing Officer
- David Shapiro: Chief Legal Officer
Headquarters
Location: 1801 California St., Suite 400, Denver, CO 80202
Number of Employees
No information is available
Revenue
Revenue (2023): $320 million
Recognition & Milestones
- Largest tech IPO in Colorado history
- Listed as a top place to work by The Denver Post and Inc. Magazine
What is the Company Known For
Ibotta is known for its cash back rewards app which has registered 50 million users. The company is a leader in digital promotions and performance marketing solutions, connecting brands with 91% of American households via the Ibotta Performance Network.
Products
Overview
Ibotta offers a suite of products that cater to both consumers and enterprise clients, facilitating cash back rewards and digital promotions.
Products Offered
1. Ibotta App
- Description: A mobile app helping users earn cash back on in-store and online purchases.
- Key Features:
- Users can add offers, upload receipts, and claim cash back at various stores.
- Real-time deal comparisons and price checks.
- Secure withdrawal of earnings upon reaching a threshold of $20.
2. Ibotta Performance Network (IPN)
- Description: A platform that allows CPG brands to deliver exclusive offers via partnered retailers.
- Key Features:
- Performance-based marketing, paying only when campaigns result directly in a sale.
- Extensive reach covering over 91% of American households.
Recent Developments
New Findings (State of Spend Report)
- Published: September 24, 2024
- Key Insights:
- Economic impacts on grocery spending.
- Greater investment in digital promotions by CPG marketers.
- Switching to lower-priced alternatives by 72% of consumers.
Share Repurchase Program
- Announcement Date: August 22, 2024
- Details: Authorization for up to $100 million of Class A common stock repurchases.
IPO and Financial Growth
- IPO Date: March 22, 2024
- Metrics:
- Revenue grew from $210 million in 2022 to $320 million in 2023.
- Transitioned to profitability with consistent positive profits.
Partnerships and Collaboration
- Enterprise Clients: Exxon, Shell, Walmart.
- Notable Partnership: Expanded IPN with major retailers like Family Dollar and Kroger.
- New Board Member: Stephen Bailey, appointed to the board of directors in Q2 2024.
Technological Enhancements
- Investment in security measures, highlighted by SOC2 Type 2 completion.
- Continued development of Ibotta IPN to strengthen retailer and publisher partnerships.
Contact Information
Corporate Communications
- Name: Hilary O’Byrne
- Email: hilary.obyrne@ibotta.com
Investor Relations
- Name: Shalin Patel, Vice President, Investor Relations
- Email: ir@ibotta.com
Press Inquiries
- Email: PR@ibotta.com
For further details and up-to-date financial statements, please visit [Ibotta's official website](https://home.ibotta.com/).
