Mobile marketing firm Liftoff has filed for an initial public offering in the United States, signaling a renewed push to the public markets after market volatility forced the company to delay its plans earlier this year. Backed by private equity giant Blackstone, the Redwood City-based company had previously aimed for a $5.17 billion valuation. The refiling suggests a warming sentiment for technology listings as global equity markets reach record highs and concerns regarding the disruptive impact of generative AI on software business models begin to stabilize.
The company’s financial performance shows significant scaling and a path toward profitability. For the fiscal year ending December 2025, Liftoff reported revenue of $685.7 million, a 32% increase over the previous year. During the same period, the firm narrowed its net loss from $48.2 million to $23.1 million. Formed through the 2021 merger of Blackstone portfolio companies Liftoff and Vungle, the platform currently leverages AI to help mobile app developers reach roughly 1.4 billion daily active users globally.
This listing is expected to be a cornerstone of a massive 2026 IPO pipeline for Blackstone, which is under increasing pressure to exit long-held positions and return capital to investors. Blackstone President Jon Gray recently indicated that the firm’s exit activity this year would be heavily concentrated in U.S. corporate listings. Liftoff, which plans to trade on the Nasdaq under the symbol "LFTO," has tapped Goldman Sachs, Jefferies, and Morgan Stanley to lead the offering.
