By Liz Moyer
Liftoff Mobile has postponed its initial public offering, citing market conditions after another day of sharp declines in stocks.
"Given current market conditions, we have made a business decision to take additional time before listing," the company said in a statement emailed to Barron's. "We are encouraged by the strong interest and positive feedback we have received from investors."
The Blackstone-backed company said it intends to pursue a listing on the public markets "when timing and conditions best support our long-term vision."
The company, which offers an AI-powered platform that helps advertisers and publishers acquire and engage mobile app users, had planned to raise $762 million at a $5.5 billion market valuation, according to Renaissance capital.
It was formed in the merger of Liftoff and Vungle. Stocks of peer companies such as AppLovin and Unity Software have fallen along with the tech sector in recent weeks, pressured by concerns over how artificial intelligence is going to transform the industry.
The S&P 500 fell on Thursday for a third-straight day, and the selloff broadened beyond tech. The Dow Jones Industrial Average fell 593 points, or 1.2%, while the S&P 500 dropped 1.2%, and the Nasdaq Composite slid 1.6%.
The tech sector was hit after Alphabet's earnings report late Wednesday failed to inspire confidence, and then other sectors joined the selloff after less than assuring labor market data.
Three IPOs did start trading Thursday, part of a spate of companies coming to market in a year that is expected to see blockbuster debuts by SpaceX and OpenAI.
The three new stocks were electrical equipment maker Forgent Power Solutions, the biotech Eikon Therapeutics, and the furniture retailer Bob's Discount Furniture.
Write to Liz Moyer at liz.moyer@barrons.com
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February 05, 2026 19:23 ET (00:23 GMT)
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