Ibotta
Ibotta is an American mobile technology company based in Denver, Colorado that enables users with its smartphone app to earn cash back on in-store, mobile app, and online purchases with receipt submission, linked retailer loyalty accounts, payments, and/or purchase verification.[1]
Private | |
Industry | Technology, coupons, mobile applications |
Founded | 2011 |
Founder | Bryan Leach |
Headquarters | Denver, Colorado |
Area served | United States |
Key people | Bryan Leach (CEO), Luke Swanson, Kane McCord, Karsten Voermann, Tim Hannan, James H. Clark |
Services | Cash back, brand discovery, engagement, consumer marketing, analytics, payments |
Number of employees | 650+ (2019) |
Website | www |
History
Ibotta was founded by current CEO Bryan Leach in 2012.[2][3] Jim Clark is an investor and board member.[4]
As of 2016, Ibotta had received over $73 million in funding.[5][6] In August 2019, the company announced that it had raised its valuation to $1 billion, following a round of Series D funding. The round was led by Koch Disruptive Technologies, a subsidiary of Koch Industries. The amount of money raised was not disclosed, but followed three rounds of funding that totaled $85 million.[7][8]
By 2019, it was reported that the Ibotta app had been downloaded more than 30 million times and had given users $500 million in rewards money.[9]
The company partners with brands and retailers to offer rebates and discounts on consumer packaged goods, retail purchases, and restaurant dining through a mobile app, similar to traditional coupons or rebates.[10][11][12][13] Ibotta also has cash back and rebates on alcohol (wine, beer, and spirits) that can be purchased at bars, restaurants, and liquor and grocery stores.[14][15] Ibotta users must be of legal drinking age, even if the consumer has no intention of purchasing beer or wine, or if they patronize a business that does not sell such items.
The app is available on both iOS and Android devices and is available only in the United States as of October 2016.[16][17][18][11] Ibotta claims to work at over 500,000 locations within the United States.[19] In 2019, the company introduced Pay with Ibotta, a way to pay for purchases using gift cards while receiving cash back rewards.[20]
Notable dates
References
- Cohen, Patricia (2016-03-31). "The Cities on the Sunny Side of the American Economy". The New York Times. ISSN 0362-4331. Retrieved 2016-08-10.
- "About us". Ibotta.
- "Ibotta expands (again!) by doubling office space in downtown Denver". The Denver Post. 2017-06-28. Retrieved 2018-05-22.
- Chowdhry, Amit. "How Ibotta Is Helping Every Day Consumers Save Time And Money". Forbes. Retrieved 2020-01-17.
- Perez, Sarah. "Mobile Savings App Ibotta Scores $40 Million".
- "Venture funding down in Colorado but firms still finding money – The Denver Post". Retrieved 2016-08-11.
- Flanagan, Will (August 6, 2019). "Ibotta Raises Series D at $1B Valuation, Becomes Colorado's Latest Unicorn". Colorado Inno. Retrieved August 15, 2019.
- "Cashback and rebate startup Ibotta secures funding at a $1 billion valuation". VentureBeat. 2019-08-06. Retrieved 2019-08-15.
- "Denver-Based Ibotta Reaches Milestone". www.cobizmag.com. Retrieved 2019-06-21.
- Natanson, Elad. "How Major Brands Combine App Innovation With Old-Fashioned Marketing Principles To Win In Mobile". Retrieved 2016-08-10.
- "Penny-Pinching Millennials Are Keeping the Coupon Alive". Bloomberg.com. Retrieved 2016-08-10.
- LearnVest. "8 Apps To Save You Money On Supplies, Clothes, Food And More Back-To-School Shopping Gear". Retrieved 2016-08-11.
- "In a World of Constantly Deleted Apps, This Mobile Player Uses Cash to Keep Folks Coming Back". Retrieved 2016-08-11.
- "Free Beer! There's an App for That". Fortune. 2016-03-02. Retrieved 2016-08-10.
- Pavini, Jeanette. "How to save on holiday spirits, wine and beer". Retrieved 2016-08-11.
- Evans, Katie. "Mobile shopping app Ibotta raises $40 million". Retrieved 2016-08-10.
- "Ibotta plans to hire 200-300, triple Denver office space – The Denver Post". Retrieved 2016-08-08.
- Perez, Sarah. "Mobile Savings App Ibotta Scores $40 Million". TechCrunch. Retrieved 2016-08-10.
- "Ibotta Gets $40 Million in Funding – AppInformers.com". 2015-10-01. Retrieved 2016-08-11.
- "Pay with Ibotta - Instant Cash Back on Your Purchases". Pay with Ibotta. Retrieved 2019-09-20.
- http://www.bizjournals.com/denver/print-edition/2014/06/27/ibotta-s-founder-decided-not-to-keep-his-day-job.html
- Perez, Sarah. "Ibotta Offers A New Take On Mobile Couponing By Offering Cash Back For Engaging With Brands, Then Buying Their Products". TechCrunch. Retrieved 2016-07-21.
- Ibotta. "Ibotta Launches Dynamic Segmentation, Partners with LiveRamp to Drive Incremental Sales for Retailers". www.prnewswire.com.
- "Ibotta Launches Dynamic Segmentation, Partners With LiveRamp". www.mediapost.com. Retrieved 2016-08-08.
- "What Day Should You Actually Be Buying Wine?". Refinery29. Retrieved 2016-08-08.