BENTONVILLE, Ark., And DENVER, Col. – Walmart and Ibotta, one of the leading cash back platforms in the United States, today announced a strategic agreement to create and launch a new digital offerings program on Walmart.com and the Walmart app. With this new program, Walmart customers will have access to hundreds of cash backs on popular products, adding another dimension to the retailer’s everyday low price promise.
With this new program, an extension of the relationship between Walmart and Ibotta began in 2018, customers will be able to earn cash back in addition to the savings they receive from Walmart’s daily low prices. Unique to this program, rebates will be redeemed and money paid directly to customers’ Walmart accounts to use for future Walmart purchases, applied to a Walmart + membership, used for grocery delivery and more. The parties are also considering integration opportunities with Walmart’s broader financial services offerings.
“We’re excited to partner with Ibotta to bring unparalleled digital offerings to Walmart shoppers while providing customers with a consistent way to save,” said Janey Whiteside, Executive Vice President and Chief Customer Officer, Walmart US. “The partnership is a win-win. We are able to find exciting new ways to help customers save even more with Walmart, while propelling our business forward, building loyalty and creating new ways for us. engage suppliers.
As an additional component of the deal, Walmart will join the Ibotta Performance Network (IPN), the first digital network to deliver cash back in a coordinated fashion across major third-party sites including social media, recipe sites and other platforms. Walmart customers on these platforms will be presented with digital offers for relevant products, which they can select and seamlessly add to their Walmart digital cart for online or in-store purchases.
“As we develop this important relationship, we are excited to bring the value of Closed Loop Cash Back and IPN to the world’s largest retailer and all of its customers,” said Bryan Leach, Founder and CEO of Ibotta. “Walmart has been an innovative leader in retail for six decades, and we are honored to work with them on this program and to be their exclusive third-party provider of item-level digital discounts on Walmart platforms. Walmart’s participation in IPN will further enhance our ability to drive significant traffic and sales to their stores and digital properties.
Walmart Inc. (NYSE: WMT) is helping people around the world save money and live better – anytime, anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and e-commerce sites. With revenue of $ 559 billion in fiscal 2021, Walmart employs 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate sponsorship and employment opportunities. Additional information about Walmart can be found by visiting enterprise.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.
Based in Denver, Colo., Ibotta (“I bought one…”) is a free cash back platform that has awarded nearly $ 1 billion in cumulative cash rewards to its users for making in-store purchases, on mobile applications. or through websites. Launched in 2012, Ibotta has over 40 million downloads, is one of the most widely used shopping and payment platforms in the United States, and offers cash back rewards on purchases from over 2,700 leading brands and partners. commercial. In addition to its properties, Ibotta also powers rewards programs for top retailers and makes content from its offering available on a number of leading websites and apps through the Ibotta Performance network. Ibotta was named to the 2020 Inc. 5000 list of the fastest growing private companies in the United States for the third year in a row after debuting on the list in 2018, and the company was also named a Top Workplace by The Denver Post four consecutive times.