Liftoff Mobile, a provider of marketing tools for mobile app developers, has announced plans for a U.S. initial public offering that could raise as much as $762 million. The Redwood City, California-based company said it intends to sell 25.4 million shares at a proposed price range of $26 to $30 per share, implying a potential valuation up to $5.17 billion.
The company, which combines the former Liftoff and Vungle platforms after a 2021 consolidation by Blackstone, supplies app developers with user acquisition and growth tools. Liftoff’s platform serves an estimated 1.4 billion daily active users worldwide, a scale the company cites as part of its commercial reach.
Blackstone, the world’s largest alternative asset manager and majority backer of Liftoff, has been preparing a sizable pipeline of public listings for 2026. Blackstone President Jon Gray said the firm’s large IPO slate would be concentrated in the corporate sector and that much of the activity would take place in the United States.
Under CEO Jeremy Bondy, Liftoff has recorded rapid growth following the 2021 combination of its two ad-tech businesses. The company reported that core advertising revenue rose 40% in the nine months ended September 30, a performance metric highlighted in its IPO filing.
In a transaction last year, growth equity investor General Atlantic acquired a minority stake in Liftoff in a deal that valued the business at $4.3 billion. The planned public listing would represent the next step in the company’s evolution from a private Blackstone portfolio asset to a publicly traded enterprise.
Liftoff is slated to list on the Nasdaq exchange under the trading symbol "LFTO." Goldman Sachs, Jefferies and Morgan Stanley are named as joint lead book-running managers for the offering.
Context on recent Blackstone listings
Last year Blackstone took two other portfolio companies public in New York - engineering and maintenance services provider Legence and medical supplier Medline - moves the firm has taken as part of a broader effort to return capital to investors.