Liftoff IPO: the creator of an AI advertising platform has gone public

Preliminary trading in shares of Liftoff Mobile, a developer of artificial intelligence software for advertising and monetization of mobile applications, has started in the trading system for Freedom clients. Later on June 4, the company's securities will appear on Nasdaq under the ticker LFTO.

Liftoff, a developer of software for monetizing mobile applications, raised $427 million in its IPO on Nasdaq. It placed 19 million shares at $23 each, which is higher than the originally announced price range ($20-22). Bloomberg estimated the company's capitalization at $3.83 billion.

The listing was organized by Goldman Sachs, Jefferies and Morgan Stanley. They received a 30-day option to buy up to 2.85 mln shares of the company.

Liftoff plans to use approximately $357.3-413.8 million of the proceeds from the deal to repay debt, with the rest to be used for general corporate purposes and to cover expenses related to the offering, according to the company's IPO prospectus sent to the regulator.

Approximately 1.3 million shares were purchased by funds affiliated with General Atlantic Investment Company.

Liftoff in its current form was formed in 2021, after Blackstone acquired a majority stake in Liftoff and merged it with rival tech company Vungle to create one of the largest independent mobile ad tech platforms, according to IPO documents. In mid-2025, about 14.5% in Liftoff was acquired by investment firm General Atlantic. At the time, the software developer's valuation was $4.3 billion - higher than at the IPO, Bloomberg points out.

Now Liftoff is the owner of an AI platform that allows mobile app developers to attract new users and advertisers to capitalize on them. SensorTower estimates that in 2024, more than 5 billion mobile users worldwide will spend an average of about three hours a day in apps. Against this background, their developers need, firstly, to attract interested users, and secondly, to monetize applications, since many of them earn money from in-game advertising.

All of this creates a big opportunity - consultancy Altman Solon estimates the target market for independent ad tech platforms at about $79 billion in 2025 with the potential to grow to $136 billion by 2030, writes Liftoff. He explains that from the very beginning he focused on different applications - social networks, finance, entertainment and games, which allowed him to accumulate a large and differentiated customer base.

In 2025, LIftoff's revenue grew 37% to $205.6 million, while net income soared 12.6 times to $49.3 million.

Liftoff originally planned to launch an IPO in February 2026, expecting to raise up to $762 million, but unexpectedly withdrew the application amid the software apocalypse. Because of the software apocalypse, shares of software companies lost almost 40% of last year's highs, CNBC noted. However, on June 2, the iShares Expanded Tech-Software Sector ETF, which tracks the securities of companies in the industry, entered the positive zone for the first time, the channel noted.

Freedom Broker advises buying the company's shares; it has set a target price for them at $29, which is 26% higher than the offering price. The catalyst for revenue growth in the future may be the company's new AI-based solution, according to the company's analyst Alem Bektemirov.

"If Liftoff is successful in its IPO, it should pave the way for similar companies to enter the market," Joseph Schuster, CEO of financial services firm IPOX, told Reuters.

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Freedom clients will be able to get access to Liftoff Mobile shares before the opening of the main exchange session. Trading will begin in the early pre-market format 2-3 hours before the U.S. exchanges open (from 15:30-16:30 Astana time). To participate, click on ticker LFTO.