Mobile app marketing company Liftoff, which receives financial backing from private equity firm Blackstone, submitted documentation on Friday to go public on U.S. stock exchanges.
The company had previously shelved its stock market debut plans in February when technology and software company shares experienced significant declines. Investors at that time were concerned about potential disruptions from artificial intelligence products like Anthropic’s Claude Cowork.
During its earlier attempt to go public, Liftoff was seeking to generate as much as $762 million while achieving a company valuation of approximately $5.17 billion.
Industry analysts anticipate that private equity companies will increase their deal-making activities by 2026, as they face challenges with slow exits and longer investment holding periods that create pressure to deliver more returns to their investors.
The mobile marketing company plans to trade on the Nasdaq stock exchange using the ticker symbol “LFTO.”
Goldman Sachs, Jefferies, and Morgan Stanley will serve as the primary underwriters managing the public offering process.
