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Instacart and Ibotta Join Forces to Deliver More Savings for Customers
Globe Newswire 13-Aug-2024 4:00 PM
DENVER, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Ibotta (NYSE:IBTA), the leading technology company providing digital promotions and performance marketing solutions for CPG brands, and Instacart (NASDAQ:CART), the leading grocery technology company in North America, today announced a strategic partnership to provide Instacart customers with access to Ibotta's industry-leading catalog of digital coupons. By joining the Ibotta Performance Network (IPN), Instacart will deliver more coupons that are timely and relevant to its consumers, helping consumers save money on their everyday purchases.
Going forward, Ibotta will be Instacart's preferred third-party coupon provider across all eligible categories of items on its mobile app and website. For CPG brands, this new partnership creates an enhanced opportunity to reach consumers across Instacart's marketplace of more than 1,500 retail banners with a footprint of more than 85,000 stores across North America. In addition, CPG brands can continue to leverage Instacart's high-performing retail media network to drive product discovery and incremental sales by connecting to consumers who are directly at the point of purchase.
"We are excited to enter into this strategic partnership with Instacart, which represents the first grocery technology company to join the Ibotta Performance Network," said Bryan Leach, founder and CEO of Ibotta. "The addition of Instacart will allow our 2,400 CPG brand partners to reach millions of additional consumers with targeted promotions on Instacart's app and website, all while benefiting from our network's unprecedented real-time measurement capabilities."
"Instacart is committed to helping consumers find more value, and today's announcement underscores our goal of making online grocery shopping accessible to all," said Chris Rogers, Chief Business Officer of Instacart. "Our partnership with Ibotta is designed to benefit both consumers, by providing valuable savings, and CPG brands, by continuing to drive real business impact and consumer engagement. We work with more than 6,000 CPG brands and we believe Ibotta will help us quickly scale our CPG-funded promotions business."
The U.S. grocery industry is projected to grow 5.6% to $1.5 trillion this year, according to a report from data firm Coresight Research. Concurrently, nearly twice as many Americans use digital coupons rather than paper coupons from a circular when shopping for groceries, according to a survey from United Natural Foods Inc.
Ibotta-provided offers will be live across Instacart's platform later this year.
About Ibotta ("I bought a...") Ibotta (NYSE:IBTA) is the leading provider of digital promotions for CPG brands, reaching over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $2 billion through the IPN since 2012. Ibotta is headquartered in Denver, and has been listed as a top place to work by The Denver Post and Inc. Magazine.
About Instacart Instacart, the leading grocery technology company in North America, works with grocers and retailers to transform how people shop. The company partners with more than 1,500 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 85,000 stores across North America on the Instacart Marketplace. Instacart makes it possible for millions of people to get the groceries they need from the retailers they love, and for approximately 600,000 Instacart shoppers to earn by picking, packing and delivering orders on their own flexible schedule. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of CPG brands – from category leaders to emerging brands – partner with the company to connect directly with consumers online, right at the point of purchase. With Instacart Health, the company is providing tools to increase nutrition security, make healthy choices easier for consumers, and expand the role that food can play in improving health outcomes. For more information, visit www.instacart.com/company, and to start shopping, visit www.instacart.com.
