NEW YORK & REDWOOD CITY, Calif.--(BUSINESS WIRE)--Liftoff, a global performance-based mobile app marketing optimization platform, announced today it has reached a definitive agreement for a majority investment from private equity funds managed by Blackstone (NYSE:BX, “Blackstone”). This strategic partnership marks a new phase in Liftoff’s continuing mission to develop industry-leading technology and product solutions that help marketers grow their engaged user bases through initial and ongoing engagement efforts.
Founded in 2012, Liftoff partners with mobile app marketers to grow their platforms globally. Liftoff’s best-in-class technology solutions deliver more than one billion engaging ads each day to high value users in more than 90 countries and across more than 500,000 mobile publishers. As content consumption increasingly shifts to mobile devices, the company is well positioned to serve the high-growth mobile app ecosystem as a leader in programmatic user acquisition and retention. Liftoff has been included on the Inc. 5000 list of fastest growing companies in the U.S. in each of the last four years. Headquartered in Redwood City, California, Liftoff has additional offices in New York, San Francisco, Seattle, Berlin, London, Paris, Singapore, Seoul, and Tokyo.
Blackstone has been an active investor in digital content and advertising technology, including recent investments in Ancestry, Bumble, and Vungle. Liftoff’s partnership with Blackstone reflects a shared belief in the future growth potential of the industry and long-term vision to build on Liftoff’s leadership position. Blackstone’s investment will help enable Liftoff to further accelerate investment priorities, expand its global footprint, and fuel future growth initiatives.
Sachin Bavishi, Managing Director at Blackstone, said: “Liftoff is a market leader and a key growth partner for many of the world’s leading mobile app developers through its extensive global reach and strong programmatic capabilities. This investment reflects our high conviction in both mobile content and mobile advertising, and we believe that Blackstone’s extensive resources and expertise will help enable Liftoff to further capitalize on its strong momentum and significant growth potential. We are very excited to partner with Liftoff’s talented founders to continue to provide best-in-class solutions to the industry.”
Martin Brand, Co-Head of U.S. Acquisitions for Blackstone's Private Equity Group, said: “Liftoff is an independent leader in the marketplace for mobile ads. Blackstone has significant experience investing in the fast-growing mobile ecosystem, and we are excited to back Mark and his team as they continue the rapid growth of Liftoff.”
“We’re excited to be partnering with Blackstone, one of the premier private equity firms in the world,” said Mark Ellis, CEO and co-founder of Liftoff. “Blackstone’s expertise will be invaluable as we continue to scale our company globally, expand our product offerings and help more mobile marketers build a growing audience of engaged users for their mobile experiences.”
The transaction is expected to close early next year, subject to customary closing conditions. Goldman Sachs & Co. LLC served as financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP served as legal advisor to Liftoff while LUMA Partners LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone. Terms of the transaction were not disclosed.
About Liftoff
Liftoff is a complete mobile app marketing platform that helps companies acquire and retain high quality mobile app users at scale. Liftoff uses prediction intelligence and unbiased ML to find engaged users at scale for mobile app marketers, creative testing to deliver the most engaging ad experience and a unique cost per revenue model to optimize for LTV goals. Liftoff is proud to be a long term partner to leading brand advertisers and app publishers since 2012. Headquartered in Redwood City, Liftoff has a global presence with offices in New York, San Francisco, Seattle, Berlin, London, Paris, Singapore, Seoul, and Tokyo.
About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
