Ibotta Reports Q3 Revenue Growth, Citing Giant Eagle Partnership
What happened
Ibotta established a partnership with Giant Eagle as a third-party publisher. In its third-quarter report, Ibotta reported revenue increased 17% year over year to $97.8 million, and adjusted EBITDA rose 43% to $23.8 million. Management noted that third-party publisher redemption revenue increased 43% to $70.7 million, partly due to the addition of Giant Eagle as a publisher.
From tickerreport.com
Why it matters
The partnership with Giant Eagle contributed to a 34% rise in third-party publisher redeemers for Ibotta. Ibotta's strong quarterly performance, which included a 43% increase in third-party publisher redemption revenue, may increase the valuation of Giant Eagle for Kroger.
From tickerreport.com
Who's involved
- IbottaMarketing company that reported strong Q3 financial results.
- Giant EagleSupermarket chain that became a third-party publisher partner for Ibotta.
- Bryan LeachFounder and CEO of Ibotta.
- KrogerAmerican multinational retailing company acquiring Giant Eagle.
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The entities involved
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Ibotta
marketing company
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Giant Eagle
supermarket chain in the eastern US
Nothing else this week.