Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>In my insight, I discuss valuation framework for comparable company analysis and outline revenue growth scenario under my base case.</li>
<li>Considering Ibotta achieved profitability in 2023 driven by strong growth in the segment of third-party publishers, I view EV/Revenue as the most appropriate methodology to value Ibotta.</li>
<li>I have a positive view of the upcoming Ibotta IPO. The company’s efficient B2B2C business model, success-based marketing approach and scale provide Ibotta with a long runway of growth.</li>
</ul>


In my insight, I discuss valuation framework for comparable company analysis and outline revenue growth scenario under my base case.
Considering Ibotta achieved profitability in 2023 driven by strong growth in the segment of third-party publishers, I view EV/Revenue as the most appropriate methodology to value Ibotta.
I have a positive view of the upcoming Ibotta IPO. The company’s efficient B2B2C business model, success-based marketing approach and scale provide Ibotta with a long runway of growth.


<ul>
<li>Ibotta, a cashback rewards platform provider, files to list IPO on NYSE. The Denver-based technology company was backed by VC investors, GGV Capital, Walmart and Koch Disruptive Technologies.</li>
<li>Ibotta is a trusted and well-known brand in the cashback space in the United States, and means “I-bought-a”. The company is led by its Founder &amp; CEO, Bryan Leach.</li>
<li>Considering Ibotta's strong and profitable growth, low penetration of the addressable market opportunity, and potential international expansion, they should have a successful IPO.</li>
</ul>


Ibotta, a cashback rewards platform provider, files to list IPO on NYSE. The Denver-based technology company was backed by VC investors, GGV Capital, Walmart and Koch Disruptive Technologies.
Ibotta is a trusted and well-known brand in the cashback space in the United States, and means “I-bought-a”. The company is led by its Founder &amp; CEO, Bryan Leach.
Considering Ibotta's strong and profitable growth, low penetration of the addressable market opportunity, and potential international expansion, they should have a successful IPO.


Ibotta IPO Preview: High-Growth Cashback Unicorn With Robust AI-Powered Capabilities

United States

Ibotta, Inc. provides e-commerce software solutions. The Company offers free-to-use performance marketing platform that allows brands to deliver digital promotions and cash rewards to its users for making purchases at brands and retail partners in-stores, on mobile applications, and via websites through a network of publishers. Ibotta serves customers in the United States.

Ibotta (IBTA US)

Ibotta IPO Valuation Analysis

Ibotta is expected to price its IPO in April. In my insight, I discuss valuation framework for comparable company analysis under my base case...

Andrei Zakharov

Ibotta IPO Preview: High-Growth Cashback Unicorn With Robust AI-Powered Capabilities

Ibotta, a high-growth technology unicorn in the cashback space, files to go public. After strong market debut of Reddit and Astera Labs, Ibotta...

Andrei Zakharov