With information that Discord is kicking the tires on going public quickly, different tech firms are beginning to take their possibilities. Liftoff Cell filed its first S-1 doc late Tuesday, step one within the course of.
The corporate isn’t but discussing how huge this IPO will likely be: It has not but stuffed in any knowledge in regards to the dimension of the providing or the stakes held by its principal shareholders. Nonetheless, the IPO analysis agency Renaissance Capital experiences the whisper quantity at $400 million, which means that’s what the road thinks the corporate hopes to lift.
The corporate presents a platform that helps cell app builders market their apps and was fashioned in 2021 by way of a merger of Liftoff and Vungle. Blackstone acquired the vast majority of its shares on the time and the finance big additionally appointed new management, which means it’s now not a founder-run firm. After the providing, Blackstone will stay the bulk shareholder, in accordance with the S-1 submitting.
One other fascinating tidbit: This itemizing, regardless of its comparatively small anticipated dimension, has an unusually giant variety of bankers underwriting it. The providing has three joint lead bankers (Goldman, Jefferies, and Morgan Stanley) and one other 12 banks aiding to promote, plus three different monetary establishments, together with Blackstone, concerned. Whew! That might both be an indication of sturdy investor curiosity or the necessity to unfold danger throughout many establishments.
Liftoff claims 140,000 apps use its companies. It says it had 2025 revenues of over $519 million and a web lack of simply over $48 million. The corporate additionally says it’s carrying over $1.85 billion in debt.
