On April 18, 2024, Ibotta, the digital marketing company backed by Walmart, listed on the New York Stock Exchange under ticker symbol “IBTA” and raised about $557.3 million in an upsized initial public offering. Denver-based Ibotta and a group of its shareholders sold 6.56 million shares for $88 each, according to Bloomberg, bringing Ibotta’s valuation to about $2.67 billion. The offering is expected to close on April 22, 2024, subject to customary closing conditions. Wilson Sonsini Goodrich & Rosati represented Ibotta in the transaction.

The listing brings the total raised via IPOs on U.S. exchanges this year to about $12 billion, compared with only $3.9 billion at this point in 2023, according to data compiled by Bloomberg. That rebound follows a nearly two-year lull in offerings following an all-time high in 2021.

The Wilson Sonsini team representing Ibotta in the transaction includes Larry W. Sonsini, Mark Baudler, Melissa Rick, and Rachel Nagashima.

For more information, please see Ibotta’s press release. Further coverage can be found at Reuters, Bloomberg Law, and Law360, among other major news outlets.