Blackstone-backed mobile advertising company Liftoff is targeting a valuation of up to $3.7 billion in its initial public offering in the United States, according to a regulatory filing on Wednesday.
IPO Details
The company plans to sell 14.3 million shares at a price range of $23 to $26 per share, aiming to raise up to $371.8 million. At the top end of the range, Liftoff would have a fully diluted valuation of approximately $3.7 billion.
Liftoff, which helps advertisers optimize mobile app campaigns, reported revenue of $1.2 billion in 2025, up 22% from the previous year. However, the company posted a net loss of $45 million in 2025, narrowing from a loss of $78 million in 2024.
Market Context
The IPO comes at a time when the tech IPO market is showing signs of recovery after a prolonged downturn. Several companies have successfully gone public in recent months, buoyed by investor appetite for growth stocks. However, concerns about inflation and interest rates persist, creating a mixed environment for new listings.
Blackstone, one of the world's largest alternative asset managers, acquired a majority stake in Liftoff in 2021 through its private equity arm. The IPO will allow Blackstone to partially cash out its investment while retaining a significant ownership position.
Liftoff plans to list on the New York Stock Exchange under the ticker symbol "LFT." The offering is being underwritten by a syndicate of banks led by Goldman Sachs and Morgan Stanley.
The company intends to use the proceeds from the IPO for general corporate purposes, including working capital and potential acquisitions. Liftoff competes with other mobile ad platforms such as AppLovin and Unity Technologies.
Investors will be closely watching the IPO as a barometer for the health of the tech sector and the broader IPO market. A successful listing could pave the way for other tech companies to go public in the coming months.
