Liftoff, a ‍mobile app marketing provider backed by Blackstone, filed ​for an initial public offering in the United States on Tuesday.

Private ⁠equity firms are expected to step up their activity in 2026, ⁠as exits ‌remain slow and holding periods extend, creating pressure to return more cash to their investors.

Reuters had ⁠reported last year that Blackstone was exploring a sale of Liftoff that could value the business at $4 billion or more, including an IPO or a private sale.

The ⁠company reported a net ​loss of $25.6 million on revenue of $491.6 million for the nine months ended September ‍30, 2025, compared with a net loss of $7.4 million on revenue ​of $377.1 million for the same period in 2024.

In May, Blackstone sold a minority stake in Liftoff to General Atlantic while retaining majority ownership.

Redwood City, California-based Liftoff offers an AI-enabled platform that provides end-to-end performance marketing and monetization solutions for the mobile app economy.

IPOs are likely to gain momentum in 2026 as anticipated interest rate cuts bolster investor confidence and appetite for risk.

The ⁠company intends to use IPO ‌proceeds for general corporate purposes and to repay outstanding debt.

Goldman Sachs, Morgan Stanley and Jefferies are the lead underwriters ‌for the ⁠offering.

Liftoff will list on the Nasdaq under the symbol "LFTO". (Reporting by ⁠Pragyan Kalita in Bengaluru; Editing by Leroy Leo)