Chief Financial Officer (CFO) at Ibotta
Ibotta’s mission is to Make Every Purchase Rewarding. Ibotta provides cash back rewards on everyday purchases from the grocery store to hailing an Uber or booking a hotel online. Our most recent launch of Pay with Ibotta allows our Savers to pay directly from the app and get instant cash back at hundreds of retailers and restaurants. Consumers have earned over $600M to date using our free app, which has become one of the top five most frequently used mobile shopping applications in the US.
We are guided by our company values, which are Integrity, Boldness, Outhustle, Teamwork, Transparency, and A Good Idea Can From Anywhere (IBOTTA). We are a high performing team, and our leaders consider themselves to be performance coaches with a primary responsibility of accelerating the career success of their teammates. We enjoy establishing and routinely surpassing wildly ambitious goals. We know that the more our consumers and advertisers win, the more we win, and we love working with like-minded teammates to do just that.
Reporting to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) will be a key business partner to the CEO and senior management team in the development and execution of the Company’s strategic and financial plans. While the CFO’s primary responsibilities will encompass all financial elements of the organization, this individual’s ability to help rapidly grow the business, including identifying, absorbing, and mitigating key business risks will be equally important. As such, the CFO will be responsible for coordinating the ongoing modification of the vision and long-term business plan, including development of underlying strategies, tactics, and experiments, capabilities necessary to execute, and measures (which provide insight to the daily performance of the company as well as periodic feedback against longer-term goals of the company). In summary, we expect this candidate to be financially and commercially adept, assisting the Company to not just “report the news, but to help make the news” as well.
- Strategic – We are seeking a CFO who is capable at managing all aspects of the strategic planning process, including assisting all levels of the organization in pursuing the projects that provide the best return on capital relative to other alternatives. Accordingly, the ideal candidate will have extensive experience with financial modeling, including NPV based project analysis, leading cross-functional teams to utilize these models to inform and execute on the best and most profitable business projects and strategies. The CFO will be responsible for ensuring that risk-adjusted project returns are adequate and synchronize with the vision, strategies, and tactics contained in the company business plan. As described in the role overview above, the CFO will also be responsible for this form of longer-term business planning.
- Operational – The leader will strike a balance between managing the day-to-day finance function while providing oversight for development of the longer-term business plan for the company. As such, the CFO will be responsible for managing and building a highly effective finance and accounting organization with specific responsibility for driving the organization’s fiscal performance. Activities include oversight of the core accounting functions, financial planning and analysis, cash management, credit and collections, quarterly and annual plan preparation, and audit. As the Company expands, tax and treasury functions will become increasingly important and must be enhanced to meet operational needs. To attract, retain, and develop key leaders, the CFO will be expected to provide ongoing mentoring as a cornerstone to career development. To develop and scale the company’s financial and operational infrastructure, the CFO team will be expected to automate our potentially outsource key processes and systems to achieve efficiency gains and quality improvements on a sequential basis. The CFO will also ensure relationships between departments are collaborative and constructive, supporting the development and execution of operating plans on a quarterly and annual basis.
- Transactional – The CFO must have the financial and business acumen, including the experience, to assist and/or lead in the negotiation of key business contracts (e.g. the company’s customer base is comprised of large, global and sophisticated customers). In addition, the CFO will lead the business development/M&A function for the Company, seeking to identify, originate, negotiate, and integrate other platforms into Ibotta that integrate new capabilities or businesses the align with the company’s long-term vision and strategies for growth, to the extent such acquisitions provide appropriate risk-adjusted returns. In short, no acquisition is strategic if it does not provide a return on capital that is appropriate on a risk-adjusted basis, so effectively managing risks in this regard will also be a critical aspect of the role.
- Balance sheet owner – the CFO will lead the efforts to develop both the short-term and long-term capital plan for the business, including evaluating current/future projects, prioritizing those projects to create long-term value, and establishing the overall financial structure to support current liquidity requirements and the need to fund long term growth (e.g., debt and equity raising as appropriate).
- Fiduciary - the CFO will be an excellent communicator who will ensure Ibotta’s business leaders, external partners, and board members are aligned and energized about its underlying business strategy and future value creation opportunities. The CFO will drive optimal performance through the creation of appropriate metrics/KPIs that provide a forward-looking view into trends requiring management engagement, reporting the same quarterly at Board meetings. The CFO will also serve as the primary interface to the audit committee of the Board of Directors.
- Deep experience developing financial and strategic plans to maximize long-term value.
- Experience leading finance functions or organizations where long-term growth and value creation are a priority.
- Capital markets experience, including interaction with bankers and other third-party capital providers.
- Previous experience as a CFO is preferred but not mandatory. The right candidate could be a strong #2 in an existing company’s finance department.
- Previous experience bringing a company public would be an advantage, but not mandatory. While this Company may or may not stay private for an extended period, all options for raising capital when and if needed to support growth remain open.
Personal Attributes and Values.
- Self-confident, self-driven leader who will speak up, does not succumb to group think and is comfortable embracing and/or articulating a contrary point of view in a collaborative setting. Embraces healthy conflict based on a foundation of trust in order to reach the best possible outcomes. Capable of handling difficult conversations, does not defer them unduly, & can mentor others to do the same.
- Self-aware, collaborative, and open to feedback.
- Straightforward, no-nonsense style. Calm and level-headed under pressure.
- Impeccable integrity and ethical standards. What you see is what you get. Honest, straightforward and accustomed to aligning with peers on the SLT and preventing divisions from emerging between departments.
- Strong track record of achievement as evidenced by tangible accomplishments in professional, academic and community settings
Headquartered in Denver, CO, Ibotta (“I bought a...“) is a free app that's transforming the shopping experience by making every purchase rewarding. The company partners with leading brands and retailers to offer real cash back on groceries, travel, electronics, clothing, gifts, home and office supplies, dining out, and much more. Ibotta is the ultimate starting point for savings. Having paid out more than $600 million in cash rewards to its Savers, it's no surprise why Ibotta is one of the most downloaded shopping apps in the United States.
Ibotta is not a typical start-up company. In fact, we are not a start-up company at all. Ibotta has a significant revenue base, generated from hundreds of partner retailers and consumer product companies, and over 35mm downloads. The company generates real ebitda, real earnings, and real cash flow. We are a real company with significant prospects for future growth. As our business grows, the value we create for our customers can grow exponentially.
Learn more about Ibotta here: https://liferewarded.ibotta.com/press-and-media/
- This position is located in Denver, CO and includes competitive pay, benefits package (including medical, dental, vision), 401k, commuter stipend, and equity.
- 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.
- Applicants must be currently authorized to work in the United States on a full-time basis.