Liftoff’s IPO is back on – and values the adtech firm at $3.83bn
Liftoff, a Redwood City-based adtech firm, has successfully launched its initial public offering, marking a second attempt after abandoning plans in January amid a broader SaaS sector downturn. The company offered 19 million shares at $23 each, raising $437 million and valuing the firm at $3.83 billion. Trading began on the Nasdaq Global Select Market on June 4 under the ticker LFTO, with the offering expected to close on June 5.
Goldman Sachs, Jefferies, and Morgan Stanley served as joint lead book-running managers for the offering. The IPO is a significant milestone for the Blackstone-backed company, though its $3.83 billion valuation represents a considerable decline from its 2025 valuation, reflecting shifting market conditions and investor sentiment toward adtech and SaaS companies.
The successful public listing demonstrates renewed market confidence in the adtech sector following Liftoff’s previous failed attempt. The company’s ability to complete the offering comes as broader market conditions stabilized after the SaaS sell-off that prompted the January withdrawal.