Liftoff Mobile is gearing up for a Nasdaq debut that could value the mobile app marketing company at up to $5.17bn. The firm has kicked off its investor roadshow ahead of a listing on the Nasdaq Global Select Market, a significant milestone for a business that powers user acquisition and monetisation for mobile game studios and app developers.
Liftoff's SEC filings show the company plans to offer 25.4 million shares, with a 30-day overallotment option for an additional 3.81 million shares. Shares are expected to price between $26 and $30 under the ticker "LFTO". If the offering hits the high end of that range, it would rank among the bigger recent tech IPOs linked to mobile advertising and gaming infrastructure.
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Breakdown of the offering
The IPO is structured to raise up to $762m in primary proceeds, not counting any shares sold by current shareholders. Liftoff won't pocket money from those secondary sales, so the capital flowing into the business will come exclusively from newly issued shares.
Goldman Sachs, Jefferies, and Morgan Stanley are handling the deal as joint lead book-running managers, backed by a wider group of global banks. They're tasked with setting pricing, gauging investor appetite, and steering the listing process as Liftoff approaches its public market entry.
For the gaming industry, this IPO matters because Liftoff's platform is a go-to tool for mobile game publishers trying to acquire players, fine-tune ad budgets, and monetise in-app engagement across different regions.
What Liftoff does for mobile games
Liftoff, headquartered in Redwood City, California, offers performance marketing and monetisation technology that helps mobile app developers expand their player base and revenue streams. Mobile game studios lean on its tools to find new players, keep them around, and boost lifetime value through precise ad targeting.
The company says its core advertising revenue jumped 40% in the nine months ending September 30. Liftoff's platform now reaches roughly 1.4bn daily active users worldwide, a scale that spans mobile games, consumer apps, and emerging digital platforms, including some tied to the web3 app space.
For developers, Liftoff runs behind the scenes in many mobile titles, helping publishers track campaigns, automate bidding, and serve ads to players most likely to download and stick with games.
The path from private merger to IPO
Liftoff Mobile came together in 2021 when Liftoff merged with Vungle, both companies previously owned by Blackstone. The combination brought user acquisition tech and mobile video advertising under one roof, creating a unified performance marketing platform for app and game developers.
In 2024, General Atlantic took a minority stake in Liftoff at a $4.3bn valuation. That investment helped fund expansion and laid the groundwork for going public. The planned IPO now pushes that valuation higher, though the final number depends on pricing and how much demand materializes from investors.
The shift to public markets reflects a broader pattern of infrastructure companies around mobile gaming, advertising, and analytics pursuing scale and financial visibility after years of private-market growth.
What this means for the gaming ecosystem
If Liftoff prices near the top of its range, the IPO would confirm investor appetite for companies that support mobile gaming infrastructure rather than building games themselves. As the cost of acquiring users climbs and competition for player attention intensifies, tools that sharpen marketing efficiency are becoming more important to how studios function.
For mobile developers, Liftoff going public could also bring more transparency into how major ad and monetisation platforms perform financially. That kind of visibility can shape how studios pick partners for marketing, analytics, and growth strategies.
The IPO's final results will hinge on broader market conditions, but Liftoff's Nasdaq move signals ongoing interest in the business side of mobile games, app marketing, and web3-adjacent platforms that operate behind the scenes of 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.
