Liftoff Secures Minority Investment from General Atlantic at $4.3 Billion Valuation
Deal News | May 05, 2025 | Blackstone
Liftoff, a leading company in performance marketing and monetization solutions for the mobile app economy, announced the sale of a minority stake to General Atlantic, a global investment firm. Managed by Blackstone, a notable private equity firm, Liftoff had previously emerged from the merger of two industry leaders, Liftoff and Vungle, in 2021. The company, under CEO Jeremy Bondy, has seen rapid growth through its AI-driven platform, Cortex, aimed at powering growth and discovery in the mobile app sphere. With General Atlantic joining as a minority investor, alongside majority shareholder Blackstone, Liftoff aims to accelerate its growth, particularly through strategic M&A to bolster its app economy leadership. Financial consultancy services for this transaction are provided by Goldman Sachs & Co. LLC, Jefferies LLC for Blackstone and Liftoff, and Morgan Stanley & Co. LLC and Paul Weiss for General Atlantic. Closing is projected for mid-2025, pending regulatory approvals.
Sectors
- Private Equity
- Technology
- Advertising & Marketing
Geography
- United States – Liftoff is headquartered in Redwood City, California, and Blackstone and General Atlantic are prominent US-based firms.
- Global – Liftoff, Blackstone, and General Atlantic all have significant international operations and influence, highlighting a global context for the deal.
Industry
- Private Equity – This industry involves investment firms like Blackstone and General Atlantic making strategic investments, in this case, involving a stake sale in Liftoff.
- Technology – Liftoff operates within the technology sector, providing AI-driven solutions for the mobile app economy.
- Advertising & Marketing – Liftoff provides performance marketing and monetization solutions, positioning it within the advertising and marketing industry.
Financials
- $4.3 Billion – The valuation of Liftoff at which General Atlantic is investing.
- $1.2 Trillion – The total assets under management by Blackstone.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Liftoff | Target Company | Companies | Liftoff provides AI-enabled marketing and monetization solutions for mobile apps. |
| Blackstone | Selling Company | Companies | Blackstone is the world's largest alternative asset manager and is managing the sale of a minority stake in Liftoff. |
| General Atlantic | Bidding Company | Companies | General Atlantic is a global investor acquiring a minority stake in Liftoff. |
| Goldman Sachs & Co. LLC | Financial Advisor | Companies | Goldman Sachs serves as a financial advisor to Liftoff and Blackstone for the transaction. |
| Jefferies LLC | Financial Advisor | Companies | Jefferies LLC serves as a financial advisor to Liftoff and Blackstone for the transaction. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Companies | Simpson Thacher & Bartlett LLP acts as legal advisor to Liftoff and Blackstone. |
| Morgan Stanley & Co. LLC | Financial Advisor | Companies | Morgan Stanley & Co. LLC is advising General Atlantic. |
| Paul Weiss | Legal Advisor | Companies | Paul Weiss serves as legal advisor to General Atlantic. |