Liftoff Mobile, the adtech giant backed by Blackstone, has shifted its strategy by filing for a confidential initial public offering. This move follows the official withdrawal of its previous listing plans on Tuesday, February 17, 2026. The company had originally targeted a **$711 million** raise with a valuation reaching **$5.17 billion**. The offering was structured for **25.4 million shares** priced between **$26 and $30**. However, a sharp sell-off in software and tech stocks forced a postponement earlier this month. Current market conditions are shaped by investor caution regarding artificial intelligence. Fears that AI tools could disrupt margins for established software firms have triggered a broad industry rout. Despite these headwinds, the adtech sector remains resilient, with the global market projected to reach **$1.12 trillion** in 2026. Liftoff’s financial health provides a strong foundation for its eventual debut. The company reported revenue of **$634 million** for the **12 months** ending September 2025. While it faces a net loss of approximately **$66 million**, its core advertising revenue saw a **40% increase** in the most recent nine-month period. The platform's scale is significant, reaching **1.4 billion** daily active users globally. This reach is a key asset as the mobile segment of the adtech market is expected to see the highest growth rates this year. Blackstone, which formed the current entity through a 2021 merger with Vungle, is expected to remain the majority shareholder. The pivot to a confidential filing allows the company to wait for a more stable window later in **2026**. This approach offers flexibility as the market digests the impact of AI and shifts in Federal Reserve leadership. The move is seen as a tactical delay rather than an abandonment of the public markets. Goldman Sachs, Jefferies, and Morgan Stanley continue to lead the underwriting syndicate. The firm’s decision reflects a broader trend among high-value startups choosing to delay listings until tech valuations recover from recent lows.