Westpac-backed rewards platform ShopBack, valued at US$1 billion, is weighing an ASX listing. Westpac invested US$30 million in 2022, with the business now generating US$5 billion in annual sales through its loyalty marketplace. The model contrasts with ANZ-acquired Cashrewards, which was bought for A$100 million in 2022 but closed last year after failing to achieve sufficient scale.

Source: https://www.linkedin.com/company/westpac/ · https://www.linkedin.com/company/shopback/ · https://www.linkedin.com/company/shopback/ · https://www.linkedin.com/company/anz/ · https://www.linkedin.com/company/anz/ · https://lnkd.in/grNBNhe4