Liftoff Mobile, backed by private equity firm Blackstone, completed a US initial public offering on June 3, raising $437 million by selling 19 million shares at $23 apiece [1, 2, 3, 4, 5, 6]. The company’s shares opened on the Nasdaq stock exchange on June 4 at $25.10, a 9.1% gain over the IPO price [1]. Liftoff plans to trade under the ticker symbol LFTO [2, 4, 5, 6].
The IPO valued Liftoff at approximately $3.83 billion, based on outstanding shares disclosed in its prospectus, according to company representative Liza Shireen Koshy [2]. Liftoff was formed in 2021 when Blackstone merged portfolio companies Liftoff and Vungle into the current mobile app marketing platform [2].
The company provides AI-driven mobile app marketing and monetization tools by integrating demand-side and supply-side platforms through its neural network engine called Cortex [5]. It serves 878 demand-side customers and integrates SDKs into over 167,000 apps reaching 1.4 billion daily active users [5].
In 2025, Liftoff generated $685.7 million in revenue, a 32% increase year-over-year, while the first quarter of 2026 saw revenue rise 37% to $205.6 million [5, 6]. Liftoff turned a net loss of $23.1 million in 2025 into a net profit of $49.3 million in Q1 2026 [5, 6].
Liftoff granted underwriters a 30-day option to purchase up to 2.85 million additional shares to cover potential over-allotments [4, 5]. The company intends to use the bulk of the IPO proceeds, about $357.3 million, to repay existing loans, with the remainder supporting operations and paying issuance fees [5].
This is Liftoff’s second attempt to go public in 2026 after it withdrew a previous IPO registration in February amid declines in tech stocks [1, 6]. The company expects the IPO transaction to close by June 5 after customary delivery conditions are met [4].
