FILE PHOTO: FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly/File Photo/File PhotoWalmart-backed digital marketing company Ibotta will likely raise $577.3 million at a valuation of $2.67 billion, after pricing its initial public offering on Wednesday.
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 everyday purchases.Ibotta will list on the New York Stock Exchange under ticker symbol"IBTA", with shares expected to start trading on Thursday. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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