CMO – Ibotta

BACKGROUND AND OPPORTUNITY

Mobile shopping app usage grew faster than any other category of apps in 2016 – growing by more than
75% over 2015; and a projected 2 billion mobile phone or tablet users will make some form of mobile commerce
transaction in 2017. Presently, mobile devices account for 19% of all US retail e-commerce sales, up from 11%
in 2014, and projected to hit 45%, or $284B in mobile purchases, by 2020 according to a BI Intelligence research
study. There is a massive market opportunity here that, to date, has been hampered by a number of factors
ranging from market fragmentation (every retailer wants their own app, making it painful for consumers) to
really poor mobile UX, driving consumers back to their desktop computers to complete online purchases. All of
that is about to change.
Enter Ibotta….
Over the course of just 6 years, Founder & CEO, Bryan Leach, took Ibotta from humble beginnings in
the basement of a firehouse to now occupying an entire floor of a Denver skyscraper. Ibotta has experienced
massive growth since their launch and has become one of the top 3 most frequently used mobile shopping
applications in the US, with more than 20 million users having downloaded its free app. The company generates
the bulk of its revenue by partnering with the nation’s leading brands and retailers, who work with Ibotta to offer
cash back on groceries, electronics, clothing, gifts, home & office supplies, and much more. Ibotta gets paid on
every single transaction or coupon redemption within its app. Last year alone, Ibotta paid consumers more than
$100 million in cash rebates for making everyday purchases at stores like Walmart, Target, and Kroger as well as
through mobile purchases on Groupon, Boxed and Jet.com. Leveraging the wealth of consumer shopping data at
its disposal, Ibotta is also developing several core Data products, which will become an increasing revenue
stream over time.
Located in the heart of Denver, CO, Ibotta is a vibrant, fast-paced environment full of driven, teamoriented
people. The team shares a passion for disruptive innovation and discovering new ways to reimagine
advertising and promotions in an increasingly mobile world. Ibotta has raised $73 million in capital, has been
named one of Denver’s Best Places To Work, and is one of the hottest pre-IPO consumer mobile companies in
the US!

KEY STATS

● Founded in 2011
● Headquartered in Denver, CO; ~400 total employees
● Revenue growth of 150% YoY from ‘15 to ‘16; projected to be approximately 90% YoY from ‘16 to
‘17, eclipsing the $100M mark
● $73M in funding raised to date
● World-class Board of Directors:
○ Jim Clark (founder of Netscape, Silicon Graphics, and Healtheon/WebMD)
○ Larry Sonsini (who took Apple, Google, Facebook, and Twitter public)
○ Tom Jermoluk (ex-CEO of @Home Network and Silicon Graphics)
○ Thomas Lehrman (co-founder of Gerson Lehrman Group)
○ Amit Doshi (Managing Director, Harbor Spring Hedge Fund)
○ Bryan Leach (Founder/CEO of Ibotta)
● App Statistics
○ Driving $5B in purchases annually, resulting in over $100M+ earned by Ibotta users in 2016
alone!

○ Activation:
■ 150%+ Growth in Quarterly Active Redeeming Users
■ 115%+ Growth in Registered Loyalty Accounts YoY
■ 4M+ Monthly Active Users

○ Retention:
■ Ibotta’s user earnings is the most important factor driving retention
■ Ibotta has the highest Retention Rate of apps in its category MoM

● Ibotta Ranks:
○ In the top 3 of apps for iOS & Google Play Shopping Category each month for the last year.
○ In the top 15 of Mobile Shopping Apps in the world
○ #1 in its category for retention %’s
○ In the top 50 most frequently used apps in the App Store
ROLE AND RESPONSIBILITY
Ibotta’s CMO will step into a once in a lifetime opportunity to join not only one of the most disruptive
companies in M-commerce but one of the hottest consumer businesses in the United States. Ibotta is on a mission
to be a household name and on the Home Screen of every consumer’s mobile device, and they are searching for a
Marketing leader to captain their ‘rocketship’. This CMO is expected to lead, manage and oversee all marketing
functions for the company, deploy an annual marketing budget in excess of $60M, and help the company
establish an unassailable consumer brand.
The role requires developing and executing a well-defined marketing and communications strategy to support
ongoing rapid business growth and helping to shape the evolving strategic vision of the company. In this role,
the candidate will work with other key members of the Executive Team and cross-functional team members to
ensure alignment, execution, and optimization of marketing programs. The candidate will report directly to the
CEO and be based in Denver, CO.
Responsibilities:
● Own Ibotta’s brand positioning, advertising, acquisition and retention strategies in order to improve the
entire user conversion funnel and consumer lifecycle
● Deploy a $60M+ annual marketing budget in the most quantitatively efficient manner possible
● Set concrete targets, and develop and implement long-term and annual business/marketing plans to
achieve them. Evaluate and adjust plans as frequently as necessary to optimize them
● Attract, develop and retain a high-performing team based on strengths, talents, group dynamics and
business needs and provide clear direction, feedback and development to direct reports
● Create and present highly polished, inspiring presentations for brands, retailers, partners, executive
management and Board of Directors
● Own marketing ROI analysis, and key performance metric reporting
● Coordinate teams devoted to user growth, activation and retention, PR, and marketing partnerships
while managing and building relationships with key agency partners
● Lead a strong marketing analytics team to measure performance and inform decisions for prioritizing
and optimizing all marketing campaigns, with a focus on spend efficiency
PROFESSIONAL BACKGROUND AND EXPERIENCE
● 15+ years of consumer marketing experience, including senior marketing leadership roles within
premium brand name companies known for their customer loyalty
● MBA degree from a recognized top-tier institution
● A strong track record of independently and proactively identifying bold and creative new initiatives,
building a strong business case for them and leading their implementation
● Comfortable working in fast-paced, high growth environments where multiple projects are ongoing at
once, with different timelines and stakeholders (internal and external)
● Success in leading and managing a team of 30+ people, with the ability to generate alignment and buyin
for key marketing initiatives while also coaching, removing obstacles to team success, and spending
time on the highest leverage, most strategic tasks
● Experience deploying a substantial annual marketing budget across a variety of different channels and
programs, all designed to achieve optimal customer/user acquisition and retention
● Strong analytical skills such that data-driven business cases in favor of preferred marketing strategies
and tactics can be presented
● Familiarity with best practices and effective marketing techniques in the loyalty or consumer rewards
space
● Deep experience in marketing a digital or mobile consumer-facing product
● Relentless passion for your work and desire to build something unique with a team of talented
colleagues
PERSONAL ATTRIBUTES AND & VALUES
● Polished yet scrappy, entrepreneurial, self-starter who can manage multiple projects simultaneously and
drive them to completion effectively
● Ready for the demands of a high energy, fast-paced company environment
● Creative thinker who can come up with innovative and effective ways to ensure all goals are met
● Strong leader who can command respect internally and externally and build a high-performing team
● Strong strategic thinking skills, as well as exceptionally strong communication skills
● High impact personality; highly energetic and enthusiastic; unpretentious; hands on operations style and
approach
● Passion and drive to change financial investing for the better
WHAT GREAT LOOKS LIKE AT IBOTTA:
First 30 days: Learn and Evaluate
Within the first month, the individual comes up to speed on the company’s current marketing strategy, programs and
tactics, and takes stock of Ibotta’s current marketing team and its core competencies.
Second 30 days: Create Vision and Alignment
Based on that information, as well as input from Ibotta’s CEO and other members of its executive team, the
individual designs and creates alignment across the marketing team and executive team.
Third 30 days: Execute and Harvest Early Wins
Proactively implement strategies that successfully drive growth in overall awareness and usage of the Ibotta app.
Establish credibility with the marketing team, SLT, and Board of Directors based on the success of early initiatives.
Within the first year, the individual will have presided over rapid growth in the active user base and exceeded other
benchmarks relating to app usage, such as activation and retention rates. The individual knows how to position
colleagues and direct reports for success and career growth. The individual remains elevated in the role, building
and relying on a strong bench of marketing colleagues to handle important day-to-day tasks and focusing on
strategic planning and leadership development.
COMPENSATION PACKAGE
Compensation will consist of the following elements:
● A competitive cash compensation package (base and incentive) in line with an entrepreneurial growth
company
● Meaningful equity participation
● The personal reward associated with playing a lead role in a company with enormous upside
opportunity
● Ibotta provides equal employment opportunities (EEO) to all employees and applicants for employment
without regard to race, color, religion, sex, national origin, age, disability, and genetics
* * * * *
For more information about Ibotta, please visit https://ibotta.com/
For more information about this opportunity, or to refer candidates, please contact
Jon Landau at 303-941-3533 or jon@spmb.com
Andrew Reid at 415-299-6199 or areid@spmb.com
For more information about SPMB, leaders in retained search for venture-backed high-tech start-ups,
visit our web site at spmb.com