Liftoff Mobile, which provides AI-powered advertising and monetization software for mobile apps, officially withdrew its plans for an initial public offering on Tuesday in an SEC filing.
The Blackstone-backed company had planned to raise $711 million earlier this month by offering 25.4 million shares at a price range of $26 to $30, before Liftoff postponed the offering amid a sell-off in tech stocks.
The Redwood City, CA-based company was founded in 2011 and booked $634 million in revenue for the 12 months ended September 30, 2025. It had planned to list on the Nasdaq under the symbol LFTO. Goldman Sachs, Jefferies, Morgan Stanley, Barclays, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, William Blair, Cantor Fitzgerald, Deutsche Bank, PJT Partners, Nomura Securities, BTIG, Needham & Co., and Raymond James were set to be the joint bookrunners on the deal.
