# Blackstone-Backed Liftoff Targets $3.7 Billion Valuation in IPO

**Published:** 2026-05-29T21:14:41.000Z  
**Topic:** Stock Market  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/322026cc-a967-44fd-bdc8-8eba05c877e5

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**
* Liftoff is seeking to raise up to $418 million, a decrease from the $762 million it targeted in a previous, scrapped IPO attempt [1].
* The company provides marketing and monetization tools designed to help mobile app developers acquire users and increase engagement [3].
* Goldman Sachs, Jefferies, and Morgan Stanley are serving as the joint lead book-running managers for the offering [2].
* The firm intends to list its shares on the Nasdaq exchange under the ticker symbol "LFTO" [1].

## Navigating a Challenging Software Market
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].

## Why it matters
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].

## Sources
1. Bnnbloomberg — [Blackstone-backed Liftoff targets $3.7 billion valuation in U.S. IPO](https://www.bnnbloomberg.ca/business/2026/05/29/blackstone-backed-liftoff-targets-37-billion-valuation-in-us-ipo/)
2. M — [Blackstone-backed Liftoff targets $3.7 billion valuation in US IPO By Reuters](https://m.investing.com/news/stock-market-news/blackstonebacked-liftoff-targets-37-billion-valuation-in-us-ipo-4717210?ampMode=1)
3. Wtvbam — [Blackstone-backed Liftoff targets $3.7 billion valuation in US IPO | WTVB | 1590 AM · 95.5 FM | The Voice of Branch County](https://wtvbam.com/2026/05/29/blackstone-backed-liftoff-targets-3-7-billion-valuation-in-us-ipo/)

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Cite as: TrendWatcher, "Blackstone-Backed Liftoff Targets $3.7 Billion Valuation in IPO", https://www.trendwatcher.in/article/322026cc-a967-44fd-bdc8-8eba05c877e5