Liftoff IPO: AI mobile ad specialist debuts on the Nasdaq
Liftoff Mobile raised $437 million in the company’s second attempt at going public this year / Photo: Instagram / Liftoffmobile
Early trading in shares of Liftoff Mobile, a developer of AI-powered software for mobile app advertising and monetization, is underway on Freedom’s client trading platform. Later on Thursday, the stock will debut during the Nasdaq regular session under the ticker symbol LFTO.
Details
Liftoff has raised $437 million in its Nasdaq IPO. The company sold 19 million shares at $23 per share, above the initially marketed range of $20-22 per share. Bloomberg estimates the market value of the company at $3.83 billion.
Goldman Sachs, Jefferies, and Morgan Stanley acted as lead underwriters for the offering. They were granted a 30-day option to purchase up to an additional 2.85 million shares.
Liftoff plans to use $357.3-413.8 million of the proceeds to repay outstanding debt, with the remainder earmarked for general corporate purposes and expenses related to the offering, according to the IPO prospectus.
Investment funds affiliated with General Atlantic purchased about 1.3 million shares in the offering.
About the company
Liftoff in its current form was created in 2021 after Blackstone acquired a controlling stake in Liftoff and combined it with rival technology company Vungle to create one of the largest independent mobile advertising technology platforms, according to the company’s IPO filings. In mid-2025, General Atlantic acquired a roughly 14.5% stake in Liftoff. At the time, the software developer was valued at $4.3 billion, higher than its IPO valuation, Bloomberg noted.
Today, Liftoff operates an AI-powered platform that helps mobile app developers acquire users and enables advertisers to monetize them. According to Sensor Tower estimates, more than 5 billion mobile-device users worldwide spent an average of about three hours per day in apps in 2024. To grow their businesses, app developers need both to attract engaged users and to monetize their applications, since many rely on in-app advertising as a key source of revenue.
That creates a significant market opportunity. Consulting firm Altman Solon estimates the addressable market for independent advertising technology platforms at roughly $79 billion in 2025, with the potential to grow to $136 billion by 2030, Liftoff said. The company noted that it has focused from the outset on a broad range of applications – including social media, finance, entertainment, and gaming – allowing it to build a large and diversified customer base.
In 2025, Liftoff’s revenue increased 37% to $205.6 million, while net income surged more than 12-fold to $49.3 million.
What analysts say
Liftoff originally planned to conduct an IPO in February and sought to raise up to $762 million, but unexpectedly withdrew the offering amid a software selloff. Software stocks had fallen around 40% from their highs reached last year, CNBC reported. However, on Tuesday, the iShares Expanded Tech-Software Sector ETF, which tracks the sector, turned positive year to date for the first time.
Freedom Broker has set a target price of $29 per share for the stock and rated it "buy," with 26% upside versus the IPO price. A new AI-powered product could become a future revenue growth catalyst, according to Freedom Broker analyst Alem Bektemirov.
“If the firm is able to successfully pursue the IPO, it should pave the way for similar firms to go to market,” IPOX CEO Josef Schuster told Reuters.
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Freedom clients will be able to trade Liftoff Mobile shares before the start of the main U.S. session. Premarket trading will open 2-3 hours early, at 15:30-16:30 Astana time. Investors can participate by selecting the symbol LFTO on the Freedom platform.
