Founded in 2011, the company offers cash back rewards on various purchases through its Ibotta Performance Network and direct to consumer app.

[8][9][10] Ibotta partners with CPG (consumer packaged goods) brands and network publishers to provide these rewards.

[17][18][19] Early investors included entrepreneur and computer scientist Jim Clark and Tom “TJ” Jermoluk, Chairman of @Home Network.

[20] In 2015, Ibotta expanded beyond item level grocery, adding the ability to get cash back on in-store retail purchases.

[28] With that new service, users were able to enter their purchase total and use a QR code to checkout and receive immediate cash back.

[29] In response to  the COVID-19 pandemic, Ibotta partnered with CPG brands in their “Here to Help” campaign and together committed over $10 million in cash back to American consumers.

[30] The company added the ability to earn cash back from online grocery pick-up and delivery orders.

[36][37][34] On April 18, 2024, Ibotta had its initial public offering (IPO), trading on the New York Stock Exchange (NYSE) under the ticker symbol IBTA.