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By Jaiveer Shekhawat and Sri Hari N S

April 18 (Reuters) - Shares of digital marketing loyal Ibotta soared 33% on their entry on the Recently York Line Convert on Thursday, bighearted the Walmart-backed society a grocery evaluation of $3.55 zillion.

Ibotta sold 6.6 billion shares at $88 each in its initial public oblation (IPO), rearing $577.3 billion. Its to begin with Price compass was $76-$84 apiece.

Tech offerings are star the turn on as the U.S. IPO commercialize rebounds in 2024, subsequently a slow two years, fueled by hopes of a piano landing place in the thriftiness.

Ibotta's stellar itemisation follows successful debuts by mixer media political platform Reddit and splintering unwavering Astera Labs .

"We're going to use the proceeds of the IPO to build out the AI-enabled technology, so that it's ... the most sophisticated way to promote a product digitally in the world. So that it is, richer set of capabilities for our advertisers, who want to be able to reach large audiences," Ibotta Chief operating officer Bryan Leaching told Reuters in an question.

Leach leave take hold near 69.7% of the add up voting exponent in the companionship post-Initial public offering.

Ibotta provides a political platform for consumer brands to save promotions to customers and extend cash-rear rewards on their routine purchases. (Reporting by Jaiveer Shekhawat and mesin slot okeplay777 Sri Hari N S in Bengaluru; Redaction by Tasim Zahid and Shilpi Majumdar)