Liftoff Mobile, a California-based company that provides mobile app marketing and monetization software, said on May 29 it was seeking a valuation of up to US$3.66 billion in a renewed US initial public offering.

The IPO comes as software stocks have tumbled because investors are concerned that AI could disrupt business models across the sector.

The company plans to raise as much as US$418 million by selling 19 million shares at US$20 to US$22 each.

That is down from an earlier attempt to raise about US$711 million by offering 25.4 million shares at US$26 to US$30 each, implying a fully diluted valuation of about US$5.5 billion, before it withdrew the IPO in February.

Formed in 2021 when Blackstone combined Liftoff and Vungle, Liftoff gives mobile app developers user acquisition, marketing, and monetization tools.

According to its filing, the company reported US$519 million in 2024 revenue and a US$48 million net loss.

Liftoff plans to list on Nasdaq under the ticker “LFTO.”

🔗 Source: Reuters