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Ibotta Aims For .7B Valuation In US IPO

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City

Popular cashback rewards app Ibotta, backed by retail giant Walmart, is gearing up for its initial public offering (IPO) in the United States. The company is aiming for a valuation of up to $2.7 billion, signaling strong investor interest in the upcoming IPO.

Ibotta's decision to go public comes as the company continues to expand its user base and offerings in the competitive cashback rewards market. With Walmart as one of its key backers, Ibotta has established itself as a prominent player in the industry.

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