Walmart-backed Ibotta raises $577M in IPO
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Walmart-Backed Ibotta, Holders Raise $577 Million in IPO Priced Above Range
(Bloomberg) -- Ibotta Inc., a digital marketing software firm that counts Walmart Inc. as a backer, and a group of shareholders raised about $577.3 million in an initial public offering priced above a marketed range.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingElon Wants His Money BackSingapore Loses ‘World’s Best Airport’ Crown to QatarRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsTesla Asks Investors to Approve Musk’s $56 Billion...
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Walmart-backed Ibotta targets up to $2.7 billion valuation in US IPO
It plans to sell 6.6 million shares of its class A common stock at $88 apiece, exceeding its earlier price range of $76-$84 apiece, Ibotta added. Increased buzz around artificial intelligence and hopes of a rebound in the U.S. IPO market from a two-year slump, buoyed by a possible soft landing for the economy have encouraged more tech companies to test the IPO waters. Ibotta, founded in 2011, provides a platform for brands to deliver promotions to customers and offer cash back rewards on their...
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Ibotta IPO: Stock price closely watched today as Walmart-backed marketing platform lists on NYSE
Ibotta, a digital marketing platform that counts Walmart as a backer, will go public on the NYSE, testing investor appetite for tech IPOs.