Blackstone-backed Liftoff has confidentially refiled for a US IPO just hours after withdrawing its previous listing plan, Bloomberg reports. The mobile app marketing platform initially sought to raise up to $762 million at a $5.17 billion valuation earlier this month. The offering was postponed due to a sharp selloff in software stocks, driven partly by fears that rapid AI advances could compress margins across vulnerable software providers. Several issuers have since trimmed valuations or delayed offerings, with IPO advisers noting a slowdown in sector dealmaking.

Liftoff was created in 2021 when Blackstone merged portfolio companies Liftoff and Vungle. The combined group provides mobile developers with tools to acquire users and scale revenues, serving roughly 1.4 billion daily active users globally. The IPO revival signals a potential turning point for the sector, though the software rout highlights lingering investor caution amid technological disruption concerns.