Sophie Blake
Liftoff Mobile has begun the roadshow for its planned initial public offering, outlining a deal that could value the mobile app marketing company at up to $5.17 billion. The company has filed a registration statement with the U.S. Securities and Exchange Commission to list its shares on the Nasdaq Global Select Market under the ticker symbol LFTO.
According to the filing, Liftoff plans to offer 25.4 million shares priced between $26 and $30 each. Existing shareholders are expected to grant underwriters a 30-day option to purchase up to an additional 3.81 million shares to cover potential over-allotments. Based on the proposed price range, the offering could raise as much as $762 million in gross proceeds, excluding any secondary share sales, from which the company will not receive funds.
The IPO comes as U.S. equity markets show renewed activity following a slowdown tied to last year’s government shutdown. Market participants have pointed to a growing backlog of late-stage private companies preparing to access public markets in 2026, particularly in the United States.
Founded in Redwood City, California, Liftoff provides performance marketing and monetization tools used by mobile app developers to acquire users and scale revenue. The company reported that its core advertising revenue rose 40% during the nine months ended September 30, and said its platform reaches approximately 1.4 billion daily active users worldwide.
Liftoff was formed in 2021 through the merger of Liftoff and Vungle, both previously backed by Blackstone. In 2024, the combined company secured a minority investment from General Atlantic that valued the business at $4.3 billion, setting a benchmark ahead of the current IPO proposal.
Goldman Sachs, Jefferies, and Morgan Stanley are acting as joint lead book-running managers on the offering, supported by a broad syndicate of global investment banks. The IPO remains subject to market conditions and regulatory approval before shares can begin trading.
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