finance1 year ago
After-Hours Stock Movers: Ibotta, Cisco, CNH Industrial & More
Ibotta, Cisco Systems, and CNH Industrial are among the companies experiencing significant stock movements in after-hours trading.
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Ibotta
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"Ibotta's IPO Makes 150 Millionaires and Soars 17% in Post-IPO Trading"
Denver-based digital marketing and consumer rebate platform Ibotta exceeded expectations in its initial public offering, raising $328 million for investors and $198 million for itself. The offering, priced at $88 per share, saw strong demand, with shares opening at $117 and closing at $103.25, valuing the company at $3.1 billion. The IPO minted over 150 new millionaires, many based in Denver, and is expected to attract top technology talent to the company. Ibotta has rebated over $1.8 billion to consumers and works with major retailers like Walmart and Kroger.
"Ibotta's IPO Soars 17% with Walmart Backing"
Ibotta Inc., a digital marketing software firm backed by Walmart, saw its shares rise 17% in its trading debut after raising about $577.3 million in an initial public offering priced above the marketed range. The company closed trading at $103.25 per share, giving it a market value of $3.13 billion. Ibotta handles promotions for over 2,400 brands and counts Walmart as a backer. The IPO brings the total raised via IPOs on US exchanges this year to over $12 billion, compared to $3.9 billion at this point in 2023.