Blackstone-backed mobile app marketing and monetization platform Liftoff Mobile has successfully completed its long-awaited initial public offering, raising $437 million after pricing shares above its marketed range. The IPO marks a significant milestone for the company after it withdrew an earlier public offering attempt amid market volatility and concerns about software-sector valuations, according to Bloomberg.
The company sold 19 million shares at $23 each, exceeding its previously marketed range of $20 to $22 per share. The offering values Liftoff at approximately $3.83 billion based on its outstanding shares. That valuation is lower than the roughly $4.3 billion valuation established during General Atlantic’s 2025 minority investment, but it represents a successful return to public markets following a difficult environment for software IPOs earlier this year.
Founded through the 2021 merger of Liftoff and Vungle, both Blackstone portfolio companies, Liftoff provides mobile app developers with marketing, user acquisition, engagement, and monetization tools. The company’s platform helps app publishers attract users and generate revenue across mobile ecosystems.
Liftoff’s IPO has been closely watched by investors because it serves as a test of market appetite for software and advertising technology companies. Earlier this year, the company withdrew an IPO that had targeted raising up to $762 million at a valuation exceeding $5 billion as software stocks came under pressure from concerns about artificial intelligence disruption and broader market volatility.
The successful offering suggests improving investor confidence in the IPO market. The company had revived its listing plans in May with a smaller offering targeting up to $418 million and a valuation of approximately $3.7 billion before ultimately exceeding those expectations through strong demand.
Liftoff plans to trade on the Nasdaq under the ticker symbol LFTO. Goldman Sachs, Jefferies, and Morgan Stanley served as the lead underwriters for the offering.
