Ibotta’s cash-back app rebates $30M to consumers

By: InnovatioNews Friday August 7, 2015 0 comments Tags: Denver, Ibotta, Richard Donahue, Bryan Leach

 

DENVER -- Ibotta Inc., a leading retail cash-back app, announced its users have earned more than $30 million in rebates.Ibotta_logoUSE

The three-year-old startup said $10 million of the $30 million in rebates took place in the last four months.

The company said the $30 million in rebates was “a significant milestone” and signifies how quickly the company is growing.

Ibotta enables consumers to earn cash back via their smartphones when they go shopping.

“Ibotta is unique because we allow the consumer to choose any brand they want and get cash back,” said Richard Donahue, Ibotta’s VP of marketing. “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.”

“We want to evolve the shopping experience,” said Bryan Leach, Ibotta’s CEO. “If we can make the shopping experience more fun and beneficial to our users – all while providing cash back – we’re doing our job.”

Ibotta said it is opening up new opportunities for brands and retailers to connect with consumers.

Ibotta currently works with some of the nation’s biggest brands, including Nike, Target, Walmart, Walgreens, Best Buy and Whole Foods.  

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InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.