Topics
Latest
AI
Amazon
Image Credits:Siegfried Layda(opens in a new window)/ Getty Images
Apps
Biotech & Health
Climate
Image Credits:Siegfried Layda(opens in a new window)/ Getty Images
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
security department
Social
Space
Startups
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Ibotta get down its track as a public company on Thursday byopening at $ 117 per plowshare , a grown increase from its IPO price of $ 88 , itself an increase from its advise range of $ 76 to $ 84 per share .
Update : plowshare of Ibotta closed at $ 103.25 yesterday , up 17 % . The company has given up some flat coat to $ 97.38 per portion today , lower , but still well above its IPO price .
And this pa is despite boosting the sizing of its offering earlier in the calendar week , with live shareholders expatiate their sale by just under 1 million shares .
percentage are not continuing to climb in early trading , but are holding steady above its IPO price , at around $ 100 at the time of writing .
The fellowship left money on the tabular array “ for investor who are very bullish on it [ flesh out ] its third - party chopine beyond just Walmart , ” which has become a central partner for Ibotta and typify much of its current taxation , said Nicholas Smith , a senior enquiry psychoanalyst at pre - IPO inquiry troupe Renaissance Capital . devote that it started trading far above its IPO price today , some critics may indicate that it left too much money on the board , and could have raise more for itself .
Its successful introduction marks the third major tech IPO in the United States this twelvemonth , and is the third in a dustup to price well and immediately swap higher . It is also the first half of a pair of applied science offerings that will list this month , with data management and surety companyRubrik expected to lean its own part next week . The two companies follow Reddit and Astera Labs out of the individual markets , after both the social media fellowship and datacenter connectivity hardware play continue to trade above their IPO prices .
Investor eagerness for Ibotta indicates that “ there is an increasing appetence for IPOs again ” Smith said , “ particularly in the tech place . ”
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Do n’t pop the champagne yet for the tech initial public offering marketplace coming roar back , however . Ibotta pivot to patronage sales over a direct - to - consumer model , which helped it strain profitability in late periods . authoritative tech IPO tend to have tech company still in growth style and deeply in the redness .
Rubrik could be a better test of IPO appetite . Its ware are in the data management and security worlds , and the troupe is profoundly unprofitable and growing more tardily than Ibotta . That said , it does have a hard cloud revenue write up to secern . If its debut go well , we could see more yet - unprofitable unicorns taste a shot at the public markets .
Smith gibe , calling the forthcoming Rubrik IPO “ an even bigger test ” for technical school unveiling “ given its watery current fiscal picture . ”
We ’ll find out next week .
