Ibotta on Wednesday sold about 6.6 million shares at $88 each, a person familiar with the situation said. The Denver-based company had planned to sell roughly 6.6 million shares at $76 to $84 each. ona bet:Goldman Sachs, ona bet:Citigroup and BofA Securities as lea༺d underwriters on the🐽 deal. 

On Tuesday, Ibotta the size of its IPO to about 6.6 million shares from around 5.6 million shares, typically a sign of investor demand. At $88 a share, Ibotta’s  valuation is $2.67 billion. It will trade Thursday on the New York Stock Exchange under the ticker IBTA.

The listing comes at a time when the broader IPO market is heating up. In addition to Ibotta, , a supplier of products for the construction industry, is expected to price Wednesday and trade Thursday, according to IPOScoop.com. Rubrik, the data security company backed by ona bet:Microsoft, is also slated to go public next week. 

Last month, Reddit raised $748 million in a much anticipated offering. Shares of Reddit soared 48% in its first day of trading and then hit a high of $74.90 in the aftermarket last month. The stock has since lost much of those gains, closing Tuesday at $39.15. Astera Labs also li💖sted in March, collecting $713 million. Astera during its debut with the stock rising to a high of $95.21 in the following weeks, though shares have since lost momentum, closing Tuesday at $73.21. 

Founded in 2011, Ibotta is a cash back rewards platform that was valued at $1 billion in 2019. Over use Ibotta, including ona bet:Coca-Cola and Pepsi, ona bet:Campbell Soup, ona bet:Kraft Heinz, and ona bet:General Mills. In 2021, the company entered into a partnership with to showcase its digital promotions on 🎶the retailer’s platformܫs. 

Ibotta posted three quarters of profitability in 2023. The company reported $18.6 million in income for the three months ended Dec. 31 compared to $5.1 million in losses for the same time period in 2022. Revenue rose 50% to $99.6 million for the December quarter.  Bryan Leach, Ibotta’s founder, CEO and president, will remain in control; he will have 71.33% of voting power after the IPO. (Leach is selling just 531,000 shares). Walmart is not selling stock but will have 2.83% voting power after the IPO. , the investment arm of Koch holdings, is offering 1.5 million shares and will have 4.85% voting power after the IPO. (Koch, which led Ibotta’s 2019 series D funding round, could make $126 million if Ibotta prices at $84.) Clark Jermoluk Founders Fund, an early stage VC, is also not selling and will have 6.21% of outstanding stock.

News of the pricing was first reported by Bloomberg.