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Ibotta's stock closed at $104 a share in its trading debut Thursday on the New York Stock Exchange, a 18% jump after pricing at $88 a day earlier.

Why it matters: The Denver-based company is one of the city's most prominent tech names — particularly as the jersey sponsor of the Nuggets — and the IPO minted more than 150 millionaires in the metro area, CEO Bryan Leach told Axios.

Many of them are family and friends who are older and ready to exit the private company investor role, he said.

What he's saying: "We have an opportunity to be more visible now," Leach explains, adding that the digital rewards platform will be able to better recruit talent as a publicly traded company.

By the numbers: Walmart-backed Ibotta raised $577.3 million in its IPO at a $2.7 billion valuation.

Trading reached as high as $117.59 shortly after the market opened.

The big picture: Ibotta joins a cadre of tech companies that have seen a relatively warm reception from public markets in recent months.

Ibotta has been watching several venture-backed companies' IPOs — Instacart, Klayvio, Reddit — and compares its own business most to ad tech company TradeDesk, which closed Thursday at $80.81 per share on the NASDAQ.

Zoom in: Leach says the company picked its IPO date nine months ago, so the warm investor reception amid a slowly re-opening listing window is a relief.

"We thought about going out in 2021… but we didn't want to be lumped in with all the unprofitable SPAC companies," says Leach.

Leach also highlights that the company has diversified its retail partnerships beyond Walmart, which is also an investor in the company.

What's next: Eventually, Ibotta could go beyond retail and partner with other industries, like banks, or content creators, to help them better track the promotions-to-sales connection.

Want more deals news? Subscribe to Axios Pro: Retail Deals today.

Ibotta's stock debut nets 150+ Denver millionaires

Illustration of hundred dollar bills on cell phones spread out. 

<a class="gtmContentClick" data-vars-link-text="Ibotta&#x27;s" data-vars-click-url="https://www.axios.com/2024/04/18/walmart-backed-ibotta-577-million-ipo" data-vars-content-id="2b807ba3-4a0b-43c8-bf95-76615aea0e95" data-vars-headline="Ibotta&#x27;s stock debut nets 150+ Denver millionaires" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/04/18/walmart-backed-ibotta-577-million-ipo" target="_self">Ibotta&#x27;s</a> stock closed at $104 a share in <a class="gtmContentClick" data-vars-link-text="its trading debut" data-vars-click-url="https://www.axios.com/2024/04/18/walmart-ibotta-stock-debut-ipo" data-vars-content-id="2b807ba3-4a0b-43c8-bf95-76615aea0e95" data-vars-headline="Ibotta&#x27;s stock debut nets 150+ Denver millionaires" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/04/18/walmart-ibotta-stock-debut-ipo" target="_self">its trading debut</a> Thursday on the New York Stock Exchange, a 18% jump after pricing at $88 a day earlier.Why it matters: The Denver-based company is one of the city&#x27;s most prominent tech names — particularly as the jersey sponsor of the Nuggets — and <a class="gtmContentClick" data-vars-link-text="the IPO" data-vars-click-url="https://www.axios.com/2024/03/22/digital-rewards-company-ibotta-files-ipo" data-vars-content-id="2b807ba3-4a0b-43c8-bf95-76615aea0e95" data-vars-headline="Ibotta&#x27;s stock debut nets 150+ Denver millionaires" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/03/22/digital-rewards-company-ibotta-files-ipo" target="_self">the IPO</a> minted more than 150 millionaires in the metro area, CEO Bryan Leach told Axios.

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Colorado voters face major decisions in the 2026 midterms, from statewide questions to choosing the next governor — and the stakes are high.

We've rounded up 1-minute voter guides to key races and ballot measures to get you smarter, faster about your ballot.

Oct. 19: Voting centers open for in-person voting or ballot drop-off.

Oct. 26: Last recommended day to mail your ballot.

Nov. 3: Election Day. Polls are open 7am–7pm. County clerks must receive ballots by 7pm.

Nov. 12: Deadline for eligible military and overseas ballots to arrive and for voters to resolve signature issues.

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Illustration: Sarah Grillo/Axios. Stock: Getty Images

Colorado voters will decide 14 statewide ballot measures, plus local questions on everything from taxes to transportation.

Amendment 83: Right to hunting and fishing

Amendment 86: Congressional redistricting

Amendment 87 and Propositions NN, 136 and 137: Taxes and TABOR

Amendment 81: Police cooperation with ICE

Proposition 133: Human trafficking penalties

Propositions 134 and 135: Transgender youth

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Democrats are defending five statewide seats.

Colorado's U.S. Senate race — Hickenlooper vs. Baisley

Gonzalez and Wiley vie for secretary of state

Bridges and Grantham compete for state treasurer

Marx, Weiser clash over domestic violence

Weiser quietly courts GOP leaders ahead of Election Day

Governor's race pits insider versus outsider

What we know — and don't — about Victor Marx

Weiser taps Lesley Dahlkemper for lieutenant governor

 Democratic congressional candidate Melat Kiros speaks to supporters at an election-night watch party after winning the Colorado primary on June 30, 2026 in Denver, Colorado. Kiros defeated incumbent Rep. Diana DeGette in the Democratic primary. (Photo by Michael Ciaglo/Getty Images)

Democratic congressional candidate Melat Kiros speaks to supporters after winning the primary. Photo: by Michael Ciaglo/Getty Images

Democratic socialist Melat Kiros upset longtime incumbent U.S. Rep. Diana DeGette (D-Denver). Now, she faces two opponents.

1-minute voter guide: Blau and Kiros seek 1st District seat

Kiros win spotlights local Democratic Socialists' growing influence

Melat Kiros sits on a Democratic island in Colorado

Newcomer Blau casts himself as Denver's moderate candidate

Progressive challenger tests DeGette's hold

Jewish leaders press Kiros over antisemitism claims

Republican Rep. Lauren Boebert and Democratic challenger Eileen Laubacher field questions from moderator Kyle Clark during a 4th Congressional District debate at 9News in Denver, Colorado on Monday, October 12, 2026. (Photo by AAron Ontiveroz/The Denver Post)

Republican Rep. Lauren Boebert and Democratic challenger Eileen Laubacher field questions at a debate. Photo: AAron Ontiveroz/The Denver Post via Getty Images

U.S. Rep. Lauren Boebert (R-Windsor) faces a competitive Democratic challenger, Eileen Laubacher, in her reelection bid.

1-minute voter guide: Lauren Boebert and Eileen Laubacher seek 4th District seat

Military service key for Democratic congressional candidates

Jeff Crank, left, and Jessica Killin, right. Photos: AAron Ontiveroz/The Denver Post via Getty Images

Democrat Jessica Killin is trying to unseat Republican U.S. Rep. Jeff Crank in this El Paso County district.

1-minute voter guide: Crank and Killin battle for the 5th Congressional District

Democrat Manny Rutinel is trying to oust Republican U.S. Rep. Gabe Evans in one of the nation's most competitive House races.

1-minute voter guide: Gabe Evans and Manny Rutinel compete in the 8th District

Evans, Rutinel clash in high-stakes congressional debate

What voters in Colorado's most competitive district are saying

Gabe Evans spent big on taxpayer-funded "franking"

How Latino voters could sway key Colorado races

Manny Rutinel once said veganism is a solution to food costs

Illustration of an African American man's hand holding an "I Voted!" button  surrounded by ballot elements.

1-minute voter guide: Denver's 6 ballot measures

1- minute voter guide: Denver's at-large city council seat

Colorado prints longest-ever Blue Book voter guide

GOP candidates try to blame Dems for affordability crisis

Democrats think they can win all GOP seats in Colorado

Federal uncertainty reshapes Denver's election prep

Denver council candidates seem to agree on almost everything

Lauren Boebert and Eileen Laubacher seek 4th District seat

Crank and Killin battle for the 5th Congressional District

Gabe Evans and Manny Rutinel compete in the 8th District

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Colorado voter guide: What to know about the candidates and ballot measures

We put together voter guides to get you smarter, faster about your ballot.

Illustration of a voting pin surrounded by election form icons

Colorado voters face major decisions in the 2026 midterms, from statewide questions to choosing the next governor — and <a class="gtmContentClick" data-vars-link-text="the stakes are high" data-vars-click-url="https://www.axios.com/local/denver/2026/10/07/colorado-2026-ballot-stakes" data-vars-content-id="e5e45b27-4eae-4fed-b52b-f5ed7c09be37" data-vars-headline="Colorado voter guide: What to know about the candidates and ballot measures" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/local/denver/2026/10/07/colorado-2026-ballot-stakes" target="_self">the stakes are high</a>.We&#x27;re here to help.

Claire Rychlewski

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