KEY POINTS
- Liftoff Mobile IPO could raise up to $762 million in fresh capital
- Blackstone expands its US focused IPO pipeline for 2026
- Deal highlights renewed investor appetite for ad technology platforms
Mobile app marketing provider Liftoff Mobile said Thursday it is seeking a valuation of up to $5.17 billion as it prepares for an initial public offering in the United States, marking another major listing from private equity giant Blackstone as IPO activity accelerates in 2026.
The proposed Liftoff Mobile IPO underscores a broader reopening of U.S. equity capital markets after several years of muted deal activity.
The Redwood City, California based company plans to sell about 25.4 million shares priced between $26 and $30 each, according to its regulatory filing, positioning the offering among the year’s largest technology listings.
Founded to help mobile app developers acquire and retain users, Liftoff operates a performance based advertising platform with reach across gaming, fintech and e-commerce apps.
Blackstone combined Liftoff with mobile video ad firm Vungle in 2021, creating a scaled platform with roughly 1.4 billion daily active users worldwide.
In 2024, growth equity firm General Atlantic purchased a minority stake that valued the business at $4.3 billion, setting a benchmark for the current offering.
Blackstone President Jon Gray said Thursday that the firm’s IPO pipeline for 2026 is among the largest in its history and is heavily concentrated in US corporate assets.
Gray said the firm is responding to investor demand for liquidity after an extended period of private market ownership.
Liftoff Chief Executive Officer Jeremy Bondy said the company’s core advertising revenue rose forty percent in the nine months ended Sept. 30, reflecting stronger demand from app developers seeking measurable returns on marketing spend.
| Metric | 2024 | 2025 (9 months) |
|---|---|---|
| Core ad revenue growth | — | 40% |
| Daily active users | 1.3 billion | 1.4 billion |
| Prior valuation | $4.3 billion | Up to $5.17 billion |
Bondy said Liftoff’s scale allows advertisers to reach global audiences while optimizing spending efficiency.
Gray said Blackstone views digital advertising infrastructure as a long term growth sector despite short term market volatility.
A spokesperson for Nasdaq confirmed the company will trade under the symbol LFTO, reflecting continued exchange competition for high profile technology listings.
Proceeds from the Liftoff Mobile IPO are expected to support product development and potential acquisitions, according to the filing.
The deal also serves as a test for other private equity backed technology firms considering public markets in 2026, particularly those with exposure to advertising and data driven marketing.
As Blackstone advances one of its most active listing calendars in years, the Liftoff Mobile IPO illustrates how scaled ad technology companies are re-emerging in public markets, signaling cautious confidence among issuers and investors navigating a shifting global economy.
Author’s Perspective
In my analysis, Liftoff Mobile’s IPO reflects a deeper reopening of US capital markets where scaled ad tech platforms with measurable ROI are regaining favor.
From a strategic perspective, Blackstone’s timing signals confidence that performance marketing is becoming core digital infrastructure, not a cyclical spend.
I predict stricter privacy rules will accelerate demand for first party data driven ad platforms like Liftoff. For app developers and small businesses, this means higher competition but better targeting efficiency.
NOTE! This article was generated with the support of AI and compiled by professionals from multiple reliable sources, including official statements, press releases, and verified media coverage. For more information, please see our T&C.
