"The company offers a platform that helps mobile app developers market their apps and was formed in 2021 through a merger of Liftoff and Vungle. Blackstone acquired the majority of its shares at the time and the finance giant also appointed new leadership, meaning it is no longer a founder-run company. After the offering, Blackstone will remain the majority shareholder, according to the S-1 filing."
"Another interesting tidbit: This listing, despite its relatively small expected size, has an unusually large number of bankers underwriting it. The offering has three joint lead bankers (Goldman, Jefferies, and Morgan Stanley) and another 12 banks assisting to sell, plus three other financial institutions, including Blackstone, involved. Whew! That could either be a sign of strong investor interest or the need to spread risk across many institutions."
Liftoff Mobile filed its initial S-1, with IPO research firm Renaissance Capital reporting a whisper number of $400 million. The company provides a platform for mobile app developers to market their apps and was created in 2021 from a Liftoff-Vungle merger. Blackstone acquired the majority stake at that time, installed new leadership, and will remain the majority shareholder after the offering. The IPO includes an unusually large underwriting group with three joint lead banks, a dozen additional banks assisting, and other financial institutions involved. Liftoff reports over 140,000 apps use its services, 2025 revenues above $519 million, a net loss near $48 million, and over $1.85 billion in debt.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]