Blackstone is preparing a potential US stock market exit for Liftoff Mobile, with the mobile app marketing platform targeting a valuation of up to $5.2bn in an initial public offering, Reuters reports.

The company is expected to pursue a listing as early as next year, depending on market conditions. Liftoff provides software that helps mobile app developers acquire users and monetise traffic, operating across advertising, data analytics, and machine-learning-driven optimisation.

Blackstone acquired Liftoff in 2021 and has since built the business through organic growth and acquisitions, most notably the purchase of Vungle, which expanded its reach across mobile gaming and digital advertising.

A successful IPO would mark one of Blackstone’s most significant technology exits since equity markets began to reopen for sponsor-backed listings. It would also test investor appetite for advertising-technology businesses after a volatile period for growth stocks.

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