Denver’s newest publicly traded company wants a new office to go with it.
Ibotta, a Mile High City-born-and-bred startup that went public last spring, is looking to lease approximately 85,000 square feet at 16 Market Square, located at 1400 16th St Mall, multiple sources told BusinessDen.
The firm, whose market capitalization is about $2 billion, is under a letter of intent for the space, sources said.
Ibotta CEO Bryan Leach deferred a request for comment to company spokeswoman Hilary O’Byrne.
“We don’t have anything to share today,” O’Byrne said.
Leach founded Ibotta in 2012. The company’s app offers a modern form of couponing, giving users cashback for purchasing certain items.
Ibotta is currently based at 1801 California St., which it first leased in 2015. The company had approximately 75,000 square feet there as of 2022, after giving up some additional space it had been subleasing, according to the Denver Business Journal. At the time, Leach said the company would likely downsize at the end of its lease.
The company went public in April at $88 a share. On Tuesday, shares closed at $71.56.
A move would put Ibotta in a new building. Its current headquarters were built in 1983, while the eight-story Market Square was completed in mid-2000. The property is owned by the Illinois Retirement Pension Fund.
Full story via BusinessDen
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