Associated Press Finance
Shares of Ibotta, a Walmart-backed digital company that offers customers cash-back rewards and rebates on grocery brands ranging from Nestle to Coca-Cola, rose 23% in its Wall Street debut on the New York Stock Exchange. The Denver company, founded by lawyer Bryan Leach in 2011, works with more than 850 different clients and represents 2,400 consumer packaged brands, according to its prospectus filed with the U.S. Securities and Exchange Commission. Walmart, Family Dollar, Kroger and other major retailers use Ibotta's artificial intelligence-enabled software, which delivers promotions that match customers' purchasing behavior.