Liftoff Mobile Files for IPO
What happened
Mobile marketing and ad tech company Liftoff Mobile announced it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission. The submission relates to a proposed initial public offering of its common stock. The number of shares and the price range for the proposed offering have not yet been determined.
Why it matters
- The company was formed through the 2021 merger of two mobile ad-tech firms, Liftoff and Vungle, a deal orchestrated by private equity firm Blackstone, which had previously acquired majority stakes in both. - Blackstone remains the majority shareholder, with growth equity firm General Atlantic purchasing a minority stake in 2025 that valued the company at $4.3 billion. - The IPO is targeting a valuation of up to $5.17 billion, aiming to raise as much as $762 million by offering 25.4 million shares priced between $26 and $30 each. - According to its S-1 filing, the company generated $519 million in revenue in 2024, but recorded a net loss of $48 million and carries a debt load of $1.85 billion. - This is Liftoff's second attempt to go public; it previously considered an IPO in late 2021 but shelved the plan after market conditions worsened in early 2022. - The combined platform for mobile app marketing and monetization reaches approximately 1.4 billion daily active users worldwide. - Prior to the merger, Vungle had been on an acquisition spree, buying influencer marketing platform Jetfuel as well as TreSensa, GameRefinery, and Algolift. - A large syndicate of 18 banks is underwriting the deal, with Goldman Sachs, Jefferies, and Morgan Stanley acting as the lead book-running managers.
Key numbers
- Mobile marketing and ad tech company Liftoff Mobile announced it has confidentially submitted a draft registration statement on Form S-1 with the U.S.
- - The company was formed through the 2021 merger of two mobile ad-tech firms, Liftoff and Vungle, a deal orchestrated by private equity firm Blackstone, which had previously acquired majority stakes in both.
- Blackstone remains the majority shareholder, with growth equity firm General Atlantic purchasing a minority stake in 2025 that valued the company at $4.3 billion.
- The IPO is targeting a valuation of up to $5.17 billion, aiming to raise as much as $762 million by offering 25.4 million shares priced between $26 and $30 each.
What happens next
- This is Liftoff's second attempt to go public; it previously considered an IPO in late 2021 but shelved the plan after market conditions worsened in early 2022.
Quick answers
What happened in Liftoff Mobile Files for IPO?
Mobile marketing and ad tech company Liftoff Mobile announced it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission. The submission relates to a proposed initial public offering of its common stock. The number of shares and the price range for the proposed offering have not yet been determined.
Why does Liftoff Mobile Files for IPO matter?
The company was formed through the 2021 merger of two mobile ad-tech firms, Liftoff and Vungle, a deal orchestrated by private equity firm Blackstone, which had previously acquired majority stakes in both. Blackstone remains the majority shareholder, with growth equity firm General Atlantic purchasing a minority stake in 2025 that valued the company at $4.3 billion. The IPO is targeting a valuation of up to $5.17 billion, aiming to raise as much as $762 million by offering 25.4 million shares priced between $26 and $30 each. According to its S-1 filing, the company generated $519 million in revenue in 2024, but recorded a net loss of $48 million and carries a debt load of $1.85 billion. This is Liftoff's second attempt to go public; it previously considered an IPO in late 2021 but shelved the plan after market conditions worsened in early 2022. The combined platform for mobile app marketing and monetization reaches approximately 1.4 billion daily active users worldwide. Prior to the merger, Vungle had been on an acquisition spree, buying influencer marketing platform Jetfuel as well as TreSensa, GameRefinery, and Algolift. A large syndicate of 18 banks is underwriting the deal, with Goldman Sachs, Jefferies, and Morgan Stanley acting as the lead book-running managers.
