Liftoff Secures Minority Growth Investment from General Atlantic at $4.3 Billion Valuation
Deal News | May 05, 2025 | General Atlantic
Liftoff, a prominent player in performance marketing and monetization within the mobile app economy, announces a strategic minority growth equity investment from General Atlantic at a valuation of $4.3 billion. The agreement, detailed on May 5, 2025, will see General Atlantic join Blackstone, the primary shareholder, in supporting Liftoff's expansive growth strategy. Emerging from Blackstone's 2021 merger of its Liftoff and Vungle holdings, Liftoff has since flourished under CEO Jeremy Bondy. With a focus on enhancing its Cortex AI platform and leveraging strategic M&A opportunities, General Atlantic's involvement not only underscores Liftoff's industry prominence but also aims to further cement its position in the rapidly evolving mobile app landscape. The transaction is pending regulatory approval, with completion anticipated by mid-2025. Esteemed entities like Goldman Sachs, Jefferies, and Morgan Stanley are among the financial institutions advising the deal.
Sectors
- Private Equity
- Technology: AI and Software
- Mobile Applications
Geography
- United States – Liftoff is headquartered in Redwood City, California, and the transaction involves U.S.-based investment firms General Atlantic and Blackstone.
Industry
- Private Equity – The transaction involves investment firms Blackstone and General Atlantic in equity roles, emphasizing the private equity sector's role in corporate growth and restructuring.
- Technology: AI and Software – Liftoff serves as an AI-enabled platform supporting the mobile app ecosystem, identifying it as part of the technology and AI-driven sectors.
- Mobile Applications – Liftoff's focus on providing marketing and monetization solutions for the app economy highlights its operations within the mobile applications sector.
Financials
- $4.3 Billion – The valuation of Liftoff at which General Atlantic is acquiring a minority equity investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Liftoff | Target Company | Company | A leader in performance marketing and monetization for the app economy, leveraging AI technology to assist mobile businesses globally. |
| General Atlantic | Investing Company | Company | A global investor with a strategic interest in disruptive technology, entering as a minority shareholder in Liftoff. |
| Blackstone | Selling Company | Company | The world's largest alternative asset manager, retaining majority ownership in Liftoff while facilitating the inclusion of General Atlantic. |
| Goldman Sachs & Co. LLC | Financial Advisor | Company | Acting as a financial advisor to Liftoff and Blackstone for the investment transaction. |
| Jefferies LLC | Financial Advisor | Company | Collaborating as a financial advisor to Liftoff and Blackstone in the transaction. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Providing legal advisory services to Liftoff and Blackstone. |
| Morgan Stanley & Co. LLC | Financial Advisor | Company | Financial advisory provider to General Atlantic in the investment proceedings. |
| Paul Weiss | Legal Advisor | Company | Legal advisory firm for General Atlantic in the deal. |