Jun. 4 at 11:47 PM
Liftoff Mobile shares rose in their Nasdaq debut after the Blackstone-backed mobile advertising company raised
$437 million in its U.S. IPO. The stock opened at
$25.10, above its IPO price of
$23 per share, giving the company a market value of about
$4.18 billion.
The offering marks Liftoff’s second attempt to go public this year after it withdrew a planned IPO in February amid weakness in software stocks and concerns about the impact of AI on the sector. The company sold 19 million shares, pricing the deal above its initial target range of
$20 to
$22 per share.
Liftoff provides advertising technology for mobile apps and generates much of its revenue through Cortex, its proprietary AI-powered prediction model. The platform reached roughly 1.4 billion daily active users worldwide in the fourth quarter. For 2025, the company reported revenue of
$685.7 million and a net loss of
$23.1 million, an improvement from a
$48.2 million loss on
$519.3 million in revenue a year earlier.
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