Ibotta Stock

The existing shareholders of Ibotta are aiming to raise $551 million when they hit the public market.

With its IPO launch, Ibotta more than doubled its valuation to $2.3 billion.

Ibotta, the digital marketing software firm, is reportedly gearing up for an initial public offering (IPO) that could value the company at $2 billion or more. To assist with the IPO, Ibotta has enlisted the help of Goldman Sachs Group and Citigroup as advisers, Bloomberg reported Thursday (Nov. 2), citing unnamed sources. Reached by PYMNTS, an Ibotta spokesperson declined to comment on the report. While the exact timing of the IPO has yet to be determined, it is expected to take place next year, according to the report.

Pham, along with the rest of Ibotta’s engineering team, have worked together to produce CultureCon annually since 2018, when they recognized how large their team was growing. Scaling a team can create instability, so the group designed the week-long CultureCon to fortify psychological safety, improve communication and facilitate collaboration both within engineering and across the company. “Ibotta was very lucky in its early years to have a high-quality culture,” Pham said. “But we knew to keep that strong culture, we needed to have active stewardship.”