With that news Discord kicked the tires quicklyother tech companies are starting to take chances. Liftoff Mobile submitted the first S-1 document last Tuesday, the first step in the process.
The company hasn’t discussed how big this IPO will be: It hasn’t filled out data on the size of the offering or the shares held by major shareholders. However, IPO research firms Capital of the Renaissance The number of reports whispers in $ 400 million, which means that the road thinks the company hopes to raise.
The company offers a platform that helps mobile app developers market their apps and was formed in 2021 through the merger of Liftoff and Vungle. Blackstone acquired a majority stake at the time and the financial giant also appointed a new leader, meaning it was no longer the founding company. After the offer, Blackstone will remain the majority shareholder, according to the S-1 filing.
Another interesting tidbit: This listing, despite the relatively small expected size, has an incredibly large number of bankers underwriting it. The offering had three joint lead bankers (Goldman, Jefferies, and Morgan Stanley) and 12 other banks helping with the sale, plus three other financial institutions, including Blackstone. wow! This may be a sign of strong investor interest or the need to spread risk across multiple institutions.
Liftoff claims 140,000 apps use its service. It said it has a 2025 profit of more than $519 million and a net loss of just over $48 million. The company also said it has more than $1.85 billion in debt.