Walmart-backed digital marketing company Ibotta is looking to raise about $551 million in an upsized initial public offering in the United States.
Ibotta seeks a valuation of $2.55 billion and sell 2.5 million shares. The stock offering is expected to be priced between $76 and $84 apiece. The company and some of its existing shareholders plan to sell a combined 6.56 million shares.
Founded in 2011, Ibotta provides a platform for brands to deliver promotions to customers and offer cash back rewards on their everyday purchases.
Ibotta will list on the New York Stock Exchange under ticker symbol “IBTA”.
Goldman Sachs, Citigroup Global Markets, and BofA Securities are the lead underwriters.
