Ibotta IPO jumps as investors continue to buy into AI hype

seekingalpha04-19

Ibotta (IBTA) shares rose 33% on Thursday as investors received the newly public digital marketing firm in warm fashion. Shares opened at $117 after they priced at $88 on Wednesday, giving the Denver...

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Shares opened at $117 after they priced at $88 on Wednesday, giving the Denver...</p>\n\n<a href=\"https://seekingalpha.com/news/4091058-ibotta-jumps-investors-continued-to-buy-ai-hype\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ibotta IPO jumps as investors continue to buy into AI hype</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIbotta IPO jumps as investors continue to buy into AI hype\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-19 00:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4091058-ibotta-jumps-investors-continued-to-buy-ai-hype><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ibotta (IBTA) shares rose 33% on Thursday as investors received the newly public digital marketing firm in warm fashion.  Shares opened at $117 after they priced at $88 on Wednesday, giving the Denver...</p>\n\n<a href=\"https://seekingalpha.com/news/4091058-ibotta-jumps-investors-continued-to-buy-ai-hype\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SG9999014542.SGD","symbol_name":"United Income Focus Trust Acc SGD","start_time":0,"source_url":"https://seekingalpha.com/news/4091058-ibotta-jumps-investors-continued-to-buy-ai-hype","article_id":"2428601512","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1289221809/image_1289221809.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428601512","pubTimestamp":1713459076,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Ibotta (IBTA) shares rose 33% on Thursday as investors received the newly public digital marketing firm in warm fashion.  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Shares opened at $117 after they priced at $88 on Wednesday, giving the Denver, Co.-based company a valuation of $2.7B. Initial expectations were that the company would price its stock between $76 and $84 per share. The company raised $577M in the offering, selling 6.56M shares as part of the initial public offering, up from the previous expectation of 5.6M shares. The offering for Ibotta, which offers consumers cash back rewards via its Ibotta Properties Network, was oversubscribed. Ibotta uses an artificial intelligence-infused offer engine, which allows consumer product companies and brands to send promotions to more than 200M customers via the network. It works with major retailers such as Walmart (WMT), General Mills (GIS), Kroger (KR), Exxon Mobil (XOM), and Dollar General (DG).  According to its most recent filing, Ibotta generated $320M in revenue in 2023, up 52% year-over-year when it recorded $211M in sales. It generated $38M in net income in 2023, up from a loss in 2022.  Lead underwriters on the deal are Goldman Sachs (GS), Citigroup (C) and and Bank of America Securities (BAC).  More on Ibotta   Netflix, Johnson & Johnson, Procter & Gamble And Baidu On Watch Ibotta Starts U.S. IPO Effort With $100 Million Filing Ibotta boosts IPO size as investors eye the AI-enhanced digital marketing play IPO Roundup: Ibotta, Centuri Holdings, and more Financial information for Ibotta, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2428601512"}