Blackstone-Backed Liftoff Targets $3.7 Billion Valuation in U.S. IPO
Synopsis
Blackstone-backed Liftoff Mobile is targeting a valuation of up to $3.66 billion in its revived U.S. initial public offering. The company plans to raise as much as $418 million by offering 19 million shares priced between $20 and $22 each. Liftoff’s IPO comes after the company previously withdrew its earlier listing plans amid market volatility and investor concerns surrounding artificial intelligence disruption in software companies. The Nasdaq-bound offering is expected to test investor appetite for software IPOs as market conditions improve following recent uncertainty in global equities.
Liftoff Mobile is a set to enter the US market with an IPO of up to $3.66 billion. With investor sentiments positive in the software IPO market, the mobile IPO plans to raise $418 million.
Key Highlights
- Liftoff Mobile set IPO target valuation up to $3.66 billion
- The offering could net the company as much as $418 million
- The company, Liftoff, will sell 19 million shares at $20 to $22 each
- It was founded in 2021 via the merger of Liftoff and Vungle
Liftoff to Target US IPO
Liftoff Mobile set target of $3.66B in new U.S. public offering, increasing its previous IPO fundraising goal from $762 million. The company plans to raise $418 at an offering price of 19 million shares priced between a range of $20 and $22 per share. Following an investors-led rout in software stocks amid concerns over rapid AI disruption, this will be the biggest test yet of the software IPO market.
The Redwood City, California-based app marketing startup plans to open on the Nasdaq under the symbol "LFTO." Liftoff had already cancelled its planned launch due to poor market conditions and instability in growth technology names before the renewed Blackstone IPO push in 2026. This IPO is a joint book-running manager by Goldman Sachs, Jefferies and Morgan Stanley.
Why and How the IPO Matters
Coming alongside advances in artificial intelligence are some nervousness on investor expectations for software company valuations, which makes the timing of this mobile tech IPO minteresting. Technology companies are more likely to defer or rethink their plans for a public listing amid fears that AI will upend investments and dent confidence in traditional software business models.
Liftoff is a mobile advertising and app monetisation platform formed in 2021 after the merger of portfolio companies Liftoff and Vungle, both owned by Blackstone. It is a company that provides app developers with tools to acquire users, re-engage users, and monetise their apps. Additionally, market conditions improved, following a return of appetite for IPO activity as investor nerves over geopolitical tensions and equity volatility calmed.
Expert Take
Joseph Schuster, CEO of IPOX said that the valuation and offering of the Liftoff Mobile IPO could play a key role in signalling activity across software IPOs more broadly. While concerns about an AI disruption remain, a successful listing "could give some comfort to other software and app marketing startup companies looking to go public," Schuster said.
FAQs
- What valuation is Liftoff Mobile targeting?
LiftOff is aiming for a $3.66 billion valuation.
- What amount of money will Liftoff be raising?
The firm hopes to secure $418 million on its IPO.
- What does Liftoff Mobile company do?
It is a mobile app-making and monetisation platform for mobile app developers.
- Who is the owner of Liftoff Mobile?
Blackstone is the company's owner.
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