Home / Business and Economy / Liftoff Mobile Aims High With $3.66B IPO Bid
Liftoff Mobile Aims High With $3.66B IPO Bid
30 May
Summary
- Liftoff Mobile seeks up to $3.66 billion valuation in renewed IPO attempt.
- The company offers 19 million shares at $20-$22 each, aiming to raise $418 million.
- Liftoff, formed by Blackstone combining Liftoff and Vungle, offers app developer tools.
Liftoff Mobile, a company supported by Blackstone, is pursuing a U.S. initial public offering with a target valuation of up to $3.66 billion. This represents a second attempt to enter public markets after an earlier withdrawal. The company plans to offer 19 million shares within a price range of $20 to $22 each, seeking to raise approximately $418 million. This revised offering is smaller than its previous attempt, where it had hoped to raise up to $762 million.
Formed in 2021 through the combination of Blackstone's portfolio companies Liftoff and Vungle, the Redwood City, California-based firm specializes in marketing and monetization tools for mobile app developers. These tools assist developers in acquiring new users and enhancing engagement. Liftoff's IPO attempt comes on the heels of a successful debut by SoftBank-backed PayPay, which raised around $880 million. The company is slated to list on the Nasdaq under the ticker "LFTO," with Goldman Sachs, Jefferies, and Morgan Stanley serving as joint lead book-running managers.
