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Liftoff Mobile is seeking a $3.66 billion valuation in a renewed U.S. IPO attempt, aiming to raise $418 million to test investor appetite for software.
Liftoff Mobile, a company backed by Blackstone, is moving forward with a renewed attempt to list on the U.S. public markets with a target valuation of up to $3.66 billion [1]. The Redwood City, California-based firm plans to raise as much as $418 million by offering 19 million shares at a price range between $20 and $22 per share [2].
Key takeaways
The decision to proceed with the IPO follows a period of volatility for software-focused companies, which have faced investor skepticism due to the potential for disruption by rapid advancements in artificial intelligence [2]. Liftoff previously withdrew an initial launch attempt as the broader listings market struggled with this AI-related uncertainty [1]. Additionally, the market experienced significant jitters following the outbreak of the Iran war, which dampened risk-on sentiment in equities before hopes for a short-lived conflict helped stabilize stock markets [3].
Liftoff was established in 2021 when Blackstone merged its portfolio companies, Liftoff and Vungle [1]. The company’s current effort to go public serves as a barometer for the broader software sector, which has seen few large IPOs this year as investors re-evaluate valuations [2]. The company’s move follows the successful debut of the Japanese payments app PayPay, which is backed by SoftBank and raised approximately $880 million [1].
Industry observers view the Liftoff offering as a critical test of whether investor appetite for software listings is beginning to return [2]. According to IPOX CEO Josef Schuster, a successful IPO for the firm could pave the way for other similar companies to enter the public market [3]. The offering also highlights a broader trend among sponsors who are increasingly looking to move forward with the listings of their portfolio companies, bolstered by anticipation surrounding upcoming high-profile IPOs from firms like SpaceX and OpenAI [1].
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 4, 2026 · How we report
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