Ibotta, a startup whose platform doles out rewards for in-store and online purchases, today announced a series D funding round led by Koch Industries subsidiary Koch Disruptive Technologies, at a $1 billion valuation. The size of the raise wasn’t disclosed, but it comes after three previous rounds totaling roughly $85 million. CEO Bryan Leach said the capital infusion will enable Colorado-based Ibotta to accelerate its hiring plans over the next year and expand its two-floor downtown Denver headquarters.
Denver Startup Ibotta Reaches $1 Billion Valuation
Shopping rebates app maker Ibotta Inc. said it is worth $1 billion after receiving a new funding round that looks likely to make it the highest-valued technology startup in Colorado. The Denver-based payments company just raised an undisclosed nine-figure Series D led by Koch Disruptive Technologies. The company is now valued at $1 billion. The startup offers a coupon alternative for consumers that want to save money and get cash back rewards. Users of the Ibotta app can shop at places like Uber, Chipotle, Whole Foods, among others and get cash back rewards for each transaction.
How Ibotta Is Helping Every Day Consumers Save Time And Money
Denver, Colorado-based Ibotta is a free mobile shopping app that makes it easier for consumers to earn cash back on everyday purchases by using a smartphone. Ibotta has partnered with a number of brands and retailers to provide offers on groceries, clothes, gifts, electronics, restaurants and more. Ever since Ibotta launched in 2012, the company has paid out over $275 million in cash back for its users and has been downloaded over 23 million times. And Ibotta users spend over $6 billion every year using the app. Currently, Ibotta has over 500 employees, most of which are based in Denver. Ibotta founder and CEO Bryan Leach was born in Nairobi, Kenya where his father worked for a car dealership but dreamed about becoming an entrepreneur in the U.S. Leach said that he had a front-row seat to his father’s version of the American dream
How Ibotta Is Helping Every Day Consumers Save Time And Money
Denver, Colorado-based Ibotta is a free mobile shopping app that makes it easier for consumers to earn cash back on everyday purchases by using a smartphone. Ibotta has partnered with a number of brands and retailers to provide offers on groceries, clothes, gifts, electronics, restaurants and more. Ever since Ibotta launched in 2012, the company has paid out over $275 million in cash back for its users and has been downloaded over 23 million times. And Ibotta users spend over $6 billion every year using the app. Currently, Ibotta has over 500 employees, most of which are based in Denver. Ibotta founder and CEO Bryan Leach was born in Nairobi, Kenya where his father worked for a car dealership but dreamed about becoming an entrepreneur in the U.S. Leach said that he had a front-row seat to his father’s version of the American dream after the family migrated to the United States. In Atlanta, Leach worked for his father’s company every summer and he saw the company grow from six employees to more than 1,400. Once Leach finished his education, studying first at Harvard University, then the University of Oxford and, finally, Yale Law School, he started his career as a law clerk to U.S. Su
Stop missing out on cashback earnings on groceries and more
“We’ve really positioned our brand as a single destination for rewarded shopping,” CEO and founder Bryan Leach told me. "We are now the third most used shopping app through the last three months. The only two shopping apps that had more minutes of usage than us on iOS in the U.S. were Amazon and eBay.” Amazon and eBay are two of the growing number of online retailers you can earn cashback through Ibotta. A recent update of the app added the ability to earn $1 back for every Uber ride and a $5 Uber ride credit for every three rides. “We’re hoping that we can go from appealing to a very savvy deal-conscious shopper to a more casual person who loves to get rewards, doesn’t want to pay full price but isn’t as interested in investing the time,” Leach said. “We’re hoping to cross into a more mainstream user base.”
Ibotta Raises $25M Led by Silicon Valley Heavyweight GGV Capital
Mobile retail app Ibotta is joining the ranks of major online services like Soundcloud, Airbnb and Pandora thanks to an investment from Silicon Valley-based investment firm GGV Capital. Ibotta, started in Denver five years ago, is one of the largest mobile retail apps on the market. The app offers users cash rebates on purchases from retail stores like Target and Walmart, but Ibotta also works with such online businesses as Uber and Ebay. GGV Capital has invested in nearly 150 different companies in the U.S. and China. Some of its most high-profile investments include e-commerce giant
The story behind Denver’s most popular mobile app and why it needed to change
Bryan Leach pulls several receipts from his leather wallet and excitedly spreads them on the table as if he just discovered a pirate’s map of buried treasure. Few people, especially Yale Law School grads who have clerked for a Supreme Court justice, are this passionate about paper receipts. “I just have them because I test all the time,” said Leach, CEO and founder of Ibotta, one of nation’s most popular mobile retail apps. He takes a picture of a Walmart receipt using the newly revamped Ibotta app and all items are automatically scanned. That makes it easier and faster for users to get cash rebates credited to their accounts. No clipping coupons. No need to verify purchases by also scanning a product’s barcode, which had been Ibotta’s modus operandi for years. (Skipping barcode verification is being slowly rolled out to more stores.)
Ibotta Partners with Bud Light & Denver Broncos
This startup will give you money when you shop on other apps
Ibotta isn’t well known in Silicon Valley, but it probably should be. The startup, which is based in Denver, lets shoppers get cash back via the Ibotta app when they buy certain products at participating grocers and retailers. It may be unsexy — no “on-demand” or subscription here — but it is currently in the Top 20 free shopping apps in both the Apple and Google app stores.
Ibotta adds deep-linking technology to offer up to 40 percent cash-back rebates
When Ibotta linked its mobile-app users to cash rebates from online stores three years ago, the experiment failed. Miserably. “We felt the tools and technology weren’t good enough for our use case,” said Bryan Leach, founder and CEO of the Denver-based shopping app. “You had to pinch and zoom. Customers weren’t getting an immediate notice on their reward. It was not seamless. We were unhappy.”
Ibotta Partners with Boxed, Groupon, Hotels.com, Jet and Other Leading Companies to Offer Consumers First-Ever Rewards for Purchases Made on Mobile Apps
Ibotta, the mobile shopping app whose users have earned more than $110 million in rewards on in-store purchases, today launched a brand-new way for consumers to discover great brands and earn rewards on mobile, in-app purchases. Through partnerships with mobile commerce leaders such as Boxed, Groupon, Hotels.com, and Jet, Ibotta will offer rewards to shoppers for ordering goods and services directly from their smartphones and tablets.
The Cities on the Sunny Side of the American Economy
Technology start-ups, including Ibotta, Craftsy, Home Advisor and Gnip (bought by Twitter in 2014), found a footing in Colorado. Financial services firms like Charles Schwab, TIAA and Fidelity Investments expanded their operations. A raft of smaller aerospace and commercial satellite companies like Sierra Nevada, which just won a NASA contract to build the mini-space shuttle Dream Chaser, have elbowed in beside giants like Boeing and Lockheed Martin. Colorado led the country last year in new health care jobs.
Mobile Savings App Ibotta Scores $40 Million
Mobile shopping app Ibotta, which got its start as an alternative means of saving money while grocery shopping without having to clip coupons, has now closed on $40 million in Series C funding to continue to scale its business. A testament to building something practical and useful for the everyday consumer, Ibotta has seen over 10 million downloads to date and a user base that has saved a combined $40 million in awards. The funding round was led by Jim Clark, founder of Silicon Graphics and Netscape, and an Ibotta board member. The additional funding brings Ibotta’s total raise to date to $73 million.
Ibotta Reaches $30 Million in Cash Rebates Paid to Shoppers
Ibotta Inc., the leading retail cash back app in the U.S., recently announced that users have earned over $30 million in rebates, a significant milestone for the 3-year-old Denver based startup. Ibotta delivered $10 million of the $30 million in cash back in the last four months alone. This accomplishment signifies how quickly Ibotta is growing, in addition to ongoing engagement and interest from their user base. Ibotta enables consumers to earn cash back via their smartphones when they go shopping. This unique approach to couponing has clearly resonated with consumers, and Ibotta is experiencing rapid growth. In addition, Ibotta preserves the consumers' freedom to choose what they buy with their unique Any Brand rebates, which provide cash back on the consumers' choice of product.
Ibotta’s New Shopping List Finds Cash Back And Rebates As You Add Items
Mobile savings app Ibotta, which got its start by targeting millennial shoppers who no longer seek out and clip paper coupons, has been working to re-think the role smartphones can play when it comes to shopping in the offline world. To date, that’s largely involved submitting receipts and scanning barcodes in order to save on in-store purchases, including those from grocery stores. Now the company is making it even easier for shoppers to save with the introduction of a smart shopping list that finds cash back for you, automatically.
Ibotta Partners with Wine and Spirits Industry Giants to Drive Sales using Cash Rebates on Mobile
Ibotta, Inc., the leading U.S. retail shopping app that gives users cash back when they shop, has partnered with multiple alcohol brands including industry leaders like E&J Gallo, Constellation Brands, Mike’s Hard Lemonade Co. and VEEV to offer shoppers cash rebates when they buy wine and spirits. Customers will be able to use the Ibotta app to purchase both alcoholic and non-alcoholic drinks from a range of retail outlets including BevMo, Specs, and even select local liquor stores. In order to view and then claim their cash rebate, Ibotta requires each user to verify that they are at least 21 years of age. To further promote responsible drinking, Ibotta will use geo-targeting to ensure that all rebates are available only in states where such rebates are legal and in compliance with all state regulations.
Mobile Savings App Ibotta Raises $20M From Netscape Founder Jim Clark
Big money for small savings: the mobile couponing app Ibotta, which lets consumers save money on grocery purchases, household goods, apparel, electronics and more, has raised $20 million in Series B funding, the company is announcing today. The lead investor in the round is Jim Clark, founder of Silicon Graphics, Netscape, and Healtheon/WedMD. He will now be joining the company’s board of directors, as a result of the new funding. Also participating in the round was Tom Jermoluk, previously of Silicon Graphics, @Home and KPCB.
Savings App Ibotta Expands To Online Shopping
Mobile savings application Ibotta, popular among digitally savvy coupon clippers, expanded beyond savings on grocery items and other consumer packaged goods to include support for home improvement stores, restaurants and more late last year. Now, it’s launching a mobile shopping version of its service, which extends its savings to online retailers, too, including Nordstrom’s, Kohl’s, Forever 21, Foot Locker, Champs, Gymboree, and others. The company explains that with the online shopping component, there’s no requirement to verify purchases by sending in receipts, as with some of its other offline shopping savings programs. Instead, users complete their shopping through a special link provided in the app or emailed to the user for later use.
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Ibotta Expands Beyond Mobile Coupons, Now Lets You Earn Cash Back From Restaurants, Fast Food & Home Improvement Stores
Denver-based mobile couponing application Ibotta, which pays you cash back for items you buy in grocery stores by simply scanning your receipt, has today debuted its iOS 7-optimized version 2.0 that now brings its shopping discounts to a number of new stores, including home improvement stores like Lowe’s and Home Depot, as well as national restaurant chains like Chili’s, Burger King, Smashburger and more.
Coupon apps save time, money
Earn Money for Shopping With This App
Earning money for your personal shopping sounds like it would be a big scam, right? But with a new gaming app from a Denver-based startup, you can legitimately get cash when you buy certain products. The Ibotta app fits into the gamification of shopping space. Ibotta (free for iOS and Android) lets you earn real money for specific item purchases at participating retailers.
Ibotta Offers A New Take On Mobile Couponing By Offering Cash Back For Engaging With Brands, Then Buying Their Products
Call it a sign of the times, if you will, but a new mobile savings app called Ibotta has climbed to 100,000 registered users in the first 75 days following its release, despite having done little to no marketing or press. The app has been slowly climbing the charts, as well, reaching the top 75 in the App Store’s “lifestyle” section, and sometimes as high as the top 50, 30, or 20. Today, Ibotta is bringing its same twist on digital couponing to Android.