Maya Robertson
Liftoff, a provider of performance marketing and monetization tools for mobile apps, has announced that General Atlantic has acquired a minority stake in the company. The deal values Liftoff at $4.3 billion and is expected to close by mid-2025, pending regulatory approvals and customary conditions.
Blackstone, which remains the majority shareholder, led the merger of Liftoff and Vungle in 2021, forming the current iteration of the company. Since then, Liftoff has expanded its offerings, including the launch of its Cortex AI platform, which is central to its operations in the mobile advertising sector.
General Atlantic joins Blackstone as an investor and will support Liftoff’s plans to expand its AI technology and explore additional mergers and acquisitions. The financial advisors for the transaction include Goldman Sachs and Jefferies for Liftoff and Blackstone, with Morgan Stanley advising General Atlantic. Legal counsel was provided by Simpson Thacher & Bartlett and Paul Weiss.
Jeremy Bondy, CEO of Liftoff, stated that the new investment signals the company’s next phase, with a continued focus on mobile advertising and app growth strategies. “We’ve built momentum over the past few years and are focused on the opportunities ahead in a changing mobile environment,” said Bondy.
Tanzeen Syed, Managing Director at General Atlantic, said the firm will work with Liftoff and Blackstone to support further development of the company’s technology and operations.
Blackstone’s Senior Managing Director Sachin Bavishi commented on the firm’s ongoing involvement, noting the company’s growth since the merger and the addition of General Atlantic as a new investor.
Founded in 2012 and headquartered in Redwood City, Liftoff provides solutions for mobile developers focused on user acquisition, monetization, and creative optimization. General Atlantic, founded in 1980, manages around $108 billion in assets and focuses on long-term investments in technology and consumer businesses.
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