Blackstone’s investment will help enable Liftoff to further accelerate investment priorities, expand its global footprint, and fuel future growth initiatives.
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.
Sachin Bavishi, managing director at Blackstone
The investment firm Blackstone has made a majority investment in the mobile marketing specialist Liftoff. The investment is expected to close in early 2021. The terms were not disclosed, but it’s valued at nearly $400 million. Liftoff previously had raised a $5 million seed round in 2015, and now serves more than 1 billion ads a day across 50,000 mobile publishers. This is the second big deal that Blackstone has made with a games-focused advertising company, following its $750 million acquisition of Vungle at the end of 2019.
We work with plenty of manufacturers. We’re roughly 50-50 between manufacturers and gaming, which roughly maps the broader business. However I feel assume alternative to go deeper on the enterprise aspect of issues and supply extra providers to have better presence and engagement . . After which I feel there are additionally adjoining platforms like telephones and tablets which are very copacetic with the cellular person and the way they behave.
Mark Ellis, Liftoff cofounder and CEO
Liftoff cofounder and CEO Mark Ellis says the funding will assist the 290-person firm develop its employees throughout 9 regional places of work, in addition to put individuals “nearer to the business alternatives” in locations like Asia, Latin America, the Center East, Africa and Scandinavia. It’ll additionally assist speed up Liftoff’s product innovation highway map. For instance, the corporate at the moment works straight with main advertisers, however Ellis says one space of curiosity is making a self-serve ad-buying mannequin.
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