Ibotta Reaches $30 Million in Cash Rebates Paid to Shoppers

DENVER, Aug. 4, 2015 /PRNewswire/ -- 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 is unique because we allow the consumer to choose any brand they want and get cash back. Seriously, Any Brand," said Richard Donahue, VP of Marketing at Ibotta. "We're empowering our users to choose, and paying them cash for whatever they pick. There are a lot of people who simply won't coupon because of the hassle or stigma involved. From finding the discounts they want to standing in line and presenting the coupons, we've eliminated the hurdles. And the growth we're seeing proves that we've made it easy and fun to be a smart shopper."

Ibotta continues to enhance the shopping experience by maximizing the use of the smartphone to provide consumers opportunities to earn cash and additional rewards. On top of the rebates that consumers can find on their favorite items, Ibotta also provides additional opportunities to save and earn rewards. For example, shoppers can receive promo codes for extra saving and unlock bonuses by redeeming rebates. They can also participate in sweepstakes for chances to win extra cash and fun seasonal prizes.

"We want to evolve the shopping experience. If we can make the shopping experience more fun and beneficial to our users, all while providing cash back, we're doing our job," said Bryan Leach, CEO of Ibotta. "Our current 'Win Groceries for a Year Sweepstakes' is just another fun way that we're hoping to make shopping a bit more exciting."

On the brand and retailer side, Ibotta opens up new opportunities for them to connect with consumers. Shoppers can engage with retailers -- by watching a video, taking a feedback quiz, etc. -- and can then redeem a rebate. Ibotta currently works brands including Nike, Target, Walmart, Walgreens, Best Buy, and Whole Foods. The large partner network allows users to earn rebates nearly every time they shop, and this type of engagement has driven users to spend $1.5 billion in 2014 alone.

For a full list of rebates, stores Ibotta supports, and more detail on how Ibotta works, visit Ibotta.com. To download the free Ibotta app, visit the Apple or Google Play store, and start earning cash whenever, wherever you shop.

About Ibotta
Ibotta, a Denver-based mobile technology company, is transforming the consumer shopping experience by making it easy to earn cash back on your phone. Ibotta partners with leading brands and retailers to offer cash back on groceries, electronics, clothing, gifts, home & office supplies, and much more.  To date, consumers have earned more than $25 million using Ibotta. With a one-of-a-kind user experience that's proven to drive in-store sales and consumer loyalty, the world's leading brands continue to leverage Ibotta as a key pillar of their digital programs and omni-channel growth strategies.
Ibotta is one of the most frequently used apps in the U.S. and is available for free via the Apple App Store or Google Play store.

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SOURCE Ibotta Inc.