Walmart-Backed Ibotta Files for IPO Showing Profit (Correct)

Digital marketing software firm Ibotta Inc. filed for an initial public offering on the heels of this week’s successful debuts by Reddit Inc. and Astera Labs Inc.

The Denver-based company, which helps brands to deliver mobile promotions through rewards and rebates, said in a filing Friday that it turned a profit last year, reversing earlier losses. Ibotta, whose investors include Walmart Inc., will disclose proposed terms for its IPO in a later filing.

Bloomberg News reported in November that Ibotta was working with advisers and could seek to be valued in a listing at $2 billion or more.

The ...