Cash back rewards platform Ibotta has launched the Ibotta Performance Network (IPN), a retail network the company says will reach more than 120 million American shoppers.
As Ibotta said in a news release Thursday (April 7), the company hopes to use IPN to expand its scope to deliver B2B Rewards as a Service (RAAS) solutions to retailers, publishers and advertisers in the consumer packaged goods (CPG) sector and beyond.
“Since the day we launched, Ibotta has looked to strengthen the connections between advertisers, retailers, and consumers,” said Bryan Leach, the firm’s founder and CEO. “As we built our reputation with consumers, the relationships we made with advertisers and retailers kept getting stronger and stronger, producing a flywheel effect. We listened to their needs and realized we absolutely had the technology to provide solutions to their biggest challenges.”
The company says its IPN campaigns are easy for advertisers to create, add to a network and manage, with Ibotta serving as the sole touchpoint for the network, handling things like program setup and targeting, content delivery, rewards adjudication, cash out and payments, billing and budgeting, fraud prevention, reporting and analytics.
To support the launch, Ibotta said it will also debut ts first B2B brand identity campaign, featuring ads based “around the idea that promotions will never be the same.”
“The recent and upcoming changes by Apple and Google, and the continued focus on privacy, signal the end of digital marketing as we’ve known it,” said Rich Donahue, chief marketing officer for Ibotta. “Advertisers are wondering, ‘what’s next?’”
Last year, Ibotta and Walmart made a deal to launch a digital offers program on Walmart’s website and app, allowing customers to get cash rebates on merchandise.
The program, which is an extension of the partnership the companies launched in 2018, lets customers get cash rebates in addition to Walmart’s normal savings offerings.