Liftoff Mobile files for IPO with estimated $400M raise

Mobile app marketing platform Liftoff Mobile filed its S-1 paperwork for an initial public offering, with analysts estimating the raise at approximately $400 million. The Blackstone-controlled company, formed through a 2021 merger with Vungle, reveals 2025 revenues of over $519 million alongside a net loss of $48 million and significant debt obligations of $1.85 billion. The offering involves an extensive syndicate of underwriters, including Goldman Sachs and Morgan Stanley, though Blackstone plans to remain the majority shareholder.