Liftoff Mobile is preparing to enter the public markets with a planned initial public offering that targets a valuation of up to $5.17bn. The mobile app marketing company has launched its investor roadshow ahead of a potential listing on the Nasdaq Global Select Market, marking a major step for a platform that works closely with mobile game and app developers on user acquisition and monetisation.
According to filings with the US Securities and Exchange Commission, Liftoff intends to offer 25.4 million shares, with an additional 3.81 million shares available through a 30-day overallotment option. The company expects its shares to price between $26 and $30 under the ticker symbol “LFTO”. At the top of that range, the offering would place Liftoff among the larger recent tech IPOs tied to the mobile advertising and gaming ecosystem.
How the Offering Is Structured
The IPO is designed to raise up to $762m in primary proceeds, excluding any shares sold by existing shareholders. Liftoff will not receive funds from secondary sales included in the offering, meaning the capital raised for the business will come strictly from newly issued shares.
Goldman Sachs, Jefferies, and Morgan Stanley are acting as joint lead book-running managers, supported by a broader syndicate of global banks. Their role is to guide pricing, manage investor demand, and support the listing process as Liftoff moves closer to its Nasdaq debut.
For the gaming sector, Liftoff’s IPO is notable because its platform is widely used by mobile game publishers to acquire players, optimise ad spend, and monetise in-app activity across different markets.
Liftoff’s Role in Mobile Games and Apps
Based in Redwood City, California, Liftoff provides performance marketing and monetisation tools that help mobile app developers grow their audiences and revenue. Its technology is commonly used by mobile game studios looking to reach new players, retain users, and improve lifetime value through targeted advertising.
The company reported that its core advertising revenue grew 40% in the nine months ended September 30. Liftoff also stated that its platform reaches about 1.4bn daily active users globally, reflecting its scale across mobile games, consumer apps, and emerging digital platforms, including projects connected to the broader web3 app economy.
For developers, Liftoff operates in the background of many mobile titles, helping publishers measure campaigns, automate bidding, and connect ads to players most likely to install and engage with games.
From Private Merger to Public Markets
Liftoff Mobile was created in 2021 through the merger of Liftoff and Vungle, both previously backed by Blackstone. The deal combined user acquisition technology with mobile video advertising, forming a single performance marketing platform aimed at app and game developers.
In 2024, Liftoff received a minority investment from General Atlantic at a valuation of $4.3bn. That funding round helped position the company for expansion and set the stage for a public offering. The planned IPO now pushes that valuation higher, depending on final pricing and investor demand.
The move to public markets is part of a wider trend of infrastructure companies around mobile gaming, advertising, and analytics seeking scale and stability after several years of private growth.
What the IPO Could Mean for the Gaming Ecosystem
If Liftoff prices at the top of its expected range, the IPO would underline investor interest in companies that support mobile gaming rather than develop games directly. As user acquisition costs continue to rise and competition for player attention increases, tools that improve marketing efficiency are becoming more central to how studios operate.
For mobile developers, Liftoff’s public listing could also increase transparency into how major ad and monetisation platforms perform financially. That visibility can influence how studios choose partners for marketing, analytics, and growth.
While the IPO’s final outcome will depend on broader market conditions, Liftoff’s move to Nasdaq signals continued momentum around the business side of mobile games, app marketing, and web3-adjacent platforms that sit behind the scenes of many popular titles.
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Frequently Asked Questions (FAQs)
What is Liftoff Mobile?
Liftoff Mobile is a performance marketing and monetisation company that helps mobile app and game developers acquire users, optimise advertising, and grow revenue through data-driven tools.
How much is Liftoff Mobile aiming to raise in its IPO?
The company is targeting up to $762m in primary proceeds, excluding any shares sold by existing shareholders.
What valuation is Liftoff targeting?
At a price range of $26 to $30 per share, Liftoff’s IPO implies a valuation of up to $5.17bn.
Where will Liftoff Mobile be listed?
Liftoff plans to list on the Nasdaq Global Select Market under the ticker symbol “LFTO”.
Why is Liftoff important to mobile games?
Many mobile game studios use Liftoff’s tools for user acquisition, ad optimisation, and monetisation, making it part of the infrastructure that supports how games reach and retain players.
Who is leading the IPO?
Goldman Sachs, Jefferies, and Morgan Stanley are serving as joint lead book-running managers for the offering.
When was Liftoff formed?
Liftoff was formed in 2021 after the merger of Liftoff and Vungle, both previously backed by Blackstone.
