Several new stocks have recently been listed, all of which have performed well after listing, including AI stock ALAB, social media stock Reddit, security stock ULS, and SpaceX concept stock DXYZ. With the bullish trend in the US stock market, more and more new stocks are being listed.
Priced above the expected range at $88, with a market value of $26.7 billion
Ibotta (IBTA), a digital marketing newcomer supported by Walmart (WMT), successfully raised approximately $570 million in its IPO. The IPO price of $88 is higher than the expected range of $76-84, indicating that Ibotta's market value will reach $26.7 billion.
The company is set to officially debut on the New York Stock Exchange this Thursday under the stock code &#34;IBTA&#34;. Goldman Sachs, Citigroup, and Bank of America Securities are the lead underwriters.
Founded in 2011, Ibotta provides a platform for brand companies to offer promotional activities to customers and provide cashback rewards in their daily shopping.
Customers include well-known companies such as Coca-Cola, PepsiCo, and Lego:
<img src="https://pub.pbkrs.com/cms/2024/0/8pYE5sfLmCct7agEqFojB5UCTJKArqZX.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/8pYE5sfLmCct7agEqFojB5UCTJKArqZX.jpg"/>
Cashback strategy, an upgraded version of Taobao affiliates?
In simple terms, Ibotta can be understood as a mobile version of a &#34;cashback website&#34;, but it integrates online and offline B-side merchants in the traffic diversion channels. By connecting C-end users and merchants, it applies a cashback + viral marketing model to users' daily consumption.
The business model is superior to early Taobao affiliates (referring to individuals who help sellers promote products and earn commissions), with cashback mainly targeting C-end customers. It has the nature of viral marketing, similar to Pinduoduo's &#34;group discount&#34; gameplay, with a natural viral spread.
As of now, Ibotta has directly partnered with over 850 different clients, representing over 2,400 different brand manufacturers.
<img src="https://pub.pbkrs.com/cms/2024/0/1f6DmiRMCc3Q3f7km3sFECrMMgHxeVJm.jpg?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/cms/2024/0/1f6DmiRMCc3Q3f7km3sFECrMMgHxeVJm.jpg"/>
Development milestones:
Ibotta was founded by current CEO Bryan Leach in 2011.
In 2016, through Series C funding, Ibotta raised over $73 million.
In 2018, Ibotta was listed on the Inc. 5,000 list, becoming one of the fastest-growing private companies in the United States.
In January 2019, Ibotta's app was downloaded over 30 million times, and users received a total of $500 million in cashback rewards. Monthly active users reached 6 million.
In August 2019, after Series D financing, Ibotta's valuation reached $1 billion.
As of 2023, Ibotta has provided over $1.5 billion in cash reward rebates to more than 50 million consumers (currently $1.8 billion)
Performance: Revenue increased by 50%, already profitable
In 2023, revenue increased by around 50%, with a net profit of $38.11 million, turning losses into profits year-on-year.
<img src="https://pub.pbkrs.com/cms/2024/0/AJYuui5N3CYM9U5q1B7CQL6fyyxu8t1n.jpg?x-oss-process=style/lg" alt="Image" original-src="https://pub.pbkrs.com/cms/2024/0/AJYuui5N3CYM9U5q1B7CQL6fyyxu8t1n.jpg"/>
The prospectus also disclosed guidance for the first quarter of 2024, with growth momentum remaining strong:
<img src="https://pub.pbkrs.com/cms/2024/0/KPwxidgoc25bkrVBLz6bTFfL1ZuBqjW6.jpg?x-oss-process=style/lg" alt="Image" original-src="https://pub.pbkrs.com/cms/2024/0/KPwxidgoc25bkrVBLz6bTFfL1ZuBqjW6.jpg"/>

IBTA

ALAB

RDDT

DXYZ

Digital marketing newcomer Ibotta (IBTA) raised approximately $570 million in funding, with an IPO price set at $88, higher than the expected range of $76-$84

LB Select

Walmart

Ibotta

Astera Labs

Reddit

UL Solutions

Destiny Tech100

Another unicorn will IPO tonight, with revenue increasing by 50% and a valuation of $2.67 billion