Mobile advertising and monetization platform Liftoff has gone public, raising $437 million and achieving a market valuation of approximately $3.83 billion.
The company priced its offering at $23 per share, above the previously announced range of $20 to $22. A total of 19 million shares were sold, with trading beginning on June 4 under the ticker symbol LFTO. The offering is expected to close on June 5, subject to customary closing conditions.
The IPO marks one of the latest public market debuts in the adtech and app economy sectors as investor activity in the listings market continues to recover. Liftoff said the proceeds will primarily be used to repay outstanding debt under its senior secured term loan facility, with the remainder allocated to general corporate purposes and offering-related expenses.
Founded in 2012 and headquartered in Redwood City, California, Liftoff provides mobile app developers and publishers with user acquisition, advertising, and monetization tools. The company was formed in its current structure after private equity firm Blackstone combined Liftoff and mobile ad platform Vungle in 2021.
According to company disclosures, Liftoff currently serves 878 demand-side customers and reaches approximately 1.4 billion daily active users through its advertising network. Its software development kit (SDK) is integrated across 167,000 active mobile apps, providing app developers with tools for performance marketing, audience growth, and revenue generation.
The company reported strong operational growth ahead of the listing. Core advertising revenue increased 40% during the nine months ended September 30, reflecting continued demand for mobile advertising and app monetization services despite broader shifts in digital advertising and privacy regulations.
Liftoff operates in a competitive mobile advertising market that has undergone significant changes in recent years as platform privacy updates, evolving attribution standards, and the growing use of artificial intelligence reshape how advertisers acquire and measure users. The company has increasingly focused on AI-powered solutions through its Cortex platform, which combines campaign optimization, creative management, and monetization capabilities.
Investment funds affiliated with General Atlantic were allocated approximately 1.3 million shares in the offering. Goldman Sachs, Jefferies, and Morgan Stanley served as joint lead book-running managers.
With its Nasdaq debut, Liftoff joins a growing list of mobile technology and advertising firms seeking access to public capital markets as competition intensifies across the global app economy.
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