Ibotta

What began as a simple idea to help shoppers earn cash back on everyday purchases has blossomed into a leading performance marketing platform. Ibotta's journey started in 2012, founded by Bryan Leach with a clear mission: 'Make Every Purchase Rewarding.' The initial concept was straightforward yet powerful: create a mobile app that allows consumers to get cash rewards on groceries and other essentials simply by submitting their receipts. This user-friendly approach quickly gained traction, and within its first year, the Ibotta app saw over a million downloads, signaling a significant shift in how consumers approached savings and how brands connected with them.

The early years were marked by rapid growth and innovation. By 2014, the introduction of the 'Receipt Scanning' feature enhanced the user experience and solidified Ibotta's position in the burgeoning mobile rewards landscape. The company's expansion continued as it forged partnerships with major retailers like Walmart and Target, broadening its reach and the variety of offers available to its growing user base. This strategic growth was fueled by several successful funding rounds, culminating in a Series D funding in 2019 that valued the company at $1 billion. This milestone was a testament to the platform's effectiveness and its transformative impact on the promotions industry. Now a publicly traded company on the NYSE, Ibotta has evolved beyond a direct-to-consumer app. It now operates the Ibotta Performance Network (IPN), a vast network of publishers that allows brands to deliver digital promotions to over 200 million consumers, paying only when a sale is made. American shoppers have earned over $1.8 billion in cash back since Ibotta's inception, a figure that underscores the company's profound and lasting impact on the lives of everyday consumers.