Walmart and Ibotta Enter Into Multi-Year Partnership To Introduce More Digital Ways for Customers To Save at Walmart
June 29 2021 - 4:30PM
Business Wire
Walmart and Ibotta, a leading cash back rewards platform in the
United States, today announced a strategic agreement to create and
launch a new digital offers program on Walmart.com and the Walmart
app. Through this new program, Walmart customers will have access
to hundreds of cash rebates on popular products, adding another
dimension to the retailer’s Every Day Low Price promise.
With this new program, an expansion of the relationship Walmart
and Ibotta began in 2018, customers will be able to earn cash
rebates on top of the savings they receive through Walmart’s
everyday low prices. Unique to this program, rebates will be
redeemed and cash provided directly to customers’ Walmart accounts
to be used for future Walmart purchases, applied toward a Walmart+
membership, used for grocery delivery and more. The parties also
envision integration opportunities with Walmart’s broader financial
services offerings.
“We’re pleased to partner with Ibotta to bring unmatched digital
offers to Walmart shoppers while still giving customers a
consistent way to save,” said Janey Whiteside, executive vice
president and chief customer officer, Walmart U.S. “The partnership
is a win-win. We’re able to find new and exciting ways to help
customers save even more with Walmart, all while propelling our
business forward, driving loyalty and creating new ways for us to
engage suppliers.”
As an additional component of the agreement, Walmart will be
joining the Ibotta Performance Network (IPN), the first digital
network that enables cash rebates to be delivered in a coordinated
fashion across large third-party sites including social media
networks, recipe sites and other platforms. Walmart customers on
those 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 shopping.
“In expanding this important relationship, we are thrilled to
bring the value of closed-loop cash rebates and the IPN to the
world’s largest retailer and all of its customers,” said Bryan
Leach, founder and CEO, 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 digital item-level rebates on Walmart platforms. Walmart’s
participation in the IPN will further enhance our ability to drive
significant traffic and sales to their stores and digital
properties.”
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and 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 eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs more
than 2.2 million associates worldwide. Walmart continues to be a
leader in sustainability, corporate philanthropy and employment
opportunity. Additional information about Walmart can be found by
visiting corporate.walmart.com, on Facebook at facebook.com/Walmart
and on Twitter at twitter.com/Walmart.
About Ibotta
Headquartered in Denver, Colo., Ibotta ("I bought a...") is a
free-to-use cash back rewards platform that has delivered nearly $1
billion in cumulative cash rewards to its users for making
purchases in-store, on mobile apps or via websites. Launched in
2012, Ibotta has more than 40 million downloads, is one of the most
frequently used shopping and payments platforms in the United
States and offers cash back on purchases on more than 2,700 leading
brands and retail partners. In addition to its owned properties,
Ibotta also powers rewards programs for top retailers and makes its
offer content available on a number of leading websites and apps
through the Ibotta Performance Network. Ibotta was named to the
2020 Inc. 5000 list of fastest-growing private companies in the
U.S. for the third year in a row after debuting on the list in
2018, and the company has also been named as a Top Workplace by The
Denver Post four consecutive times.
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Media Contact: Walmart Media Relations - 800-331-0085
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