Blackstone Closes Acquisition of Vungle, a Leading Mobile Performance Marketing Platform
September 30 2019 - 1:03PM
Business Wire
Vungle promotes Jeremy Bondy to Chief Operating
Officer
Blackstone (NYSE:BX) announced today that private equity funds
managed by Blackstone (“Blackstone”) have completed the previously
announced acquisition of Vungle, a leading performance marketing
platform for in-app video advertisements on mobile devices.
Vungle is trusted by publishers of more than 60,000 mobile apps
worldwide, including top brands such as Rovio, Zynga, Pandora,
Microsoft, and Scopely, among others. The company serves more than
4 billion video views per month over a billion unique devices, and
is consistently ranked #1 for cross-platform user retention by
industry mobile performance indexes. Vungle is headquartered in San
Francisco, with offices in London, Berlin, Beijing, Tokyo,
Singapore and Seoul.
The acquisition brings together Vungle’s leading performance
marketing platform for in-app advertising with Blackstone’s
demonstrated success in partnering with category leaders to support
and accelerate their growth.
“Vungle’s rich expertise in the high-growth, in-app performance
advertising market and strong focus on the mobile experience
position the company well for continued success,” said Sachin
Bavishi, Principal at Blackstone. “We are excited to support Vungle
as it continues to expand its platform capabilities and enter new
markets to better serve advertisers and publishers.”
Martin Brand, a Senior Managing Director at Blackstone, said:
“We are pleased to complete this transaction, and look forward to
investing in Vungle and pursuing a business plan focused on
accelerating growth.”
Rick Tallman, CEO of Vungle, said: "We are delighted to join the
Blackstone portfolio of companies and kick off the next chapter of
Vungle’s story. With Blackstone’s resources and expertise, we will
build upon our proven track record as a trusted guide for mobile
growth and engagement for the world’s largest brands.”
Concurrent with the completion of the transaction, Vungle is
promoting Jeremy Bondy to the newly created role of Chief Operating
Officer. He will continue to oversee global revenue and Vungle
Creative Labs, while ensuring operational excellence across the
business.
“Jeremy is a seasoned and trusted leader who consistently
delivers results,” added Rick Tallman. “Jeremy’s sales and
operational leadership have been instrumental to our rapid,
profitable growth over the past five years. I look forward to
working closely with him in his new role as we continue to expand
our company and better serve our customers.”
Goldman Sachs & Co. LLC is serving as financial advisor to
Vungle and Guggenheim Securities, LLC is serving as financial
advisor to Blackstone on the transaction. DLA Piper LLP (US) is
serving as legal advisor to Vungle and Simpson Thacher &
Bartlett LLP is serving as legal advisor to Blackstone.
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 in which we invest, and the communities in
which we work. We do this by using extraordinary people and
flexible capital to help companies solve problems. Our businesses,
with $545 billion in assets under management, include investment
vehicles focused on private equity, real estate, public debt and
equity, 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.
About Vungle
Vungle is the trusted guide for growth and engagement,
transforming how people discover and experience apps. Mobile
application developers partner with Vungle to monetize their apps
through innovative in-app ad experiences that are inspired by
insight and crafted with creativity. Advertisers depend on Vungle
to reach, acquire, and retain high-value users worldwide. Vungle
develops tools that include data-led buying and UX recommendations,
ad format innovation, creative automation, and more. Vungle's
data-optimized ads run on over 1 billion unique devices to drive
engagement and increase returns for publishers and advertisers
ranging from indie studios to powerhouse brands, including Rovio,
Zynga, Pandora, Microsoft, and Scopely. The company is
headquartered in San Francisco and has offices around the world in
London, Berlin, Beijing, Tokyo, Seoul, Singapore. For more
information, visit www.vungle.com or follow the company on Twitter
@Vungle
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version on businesswire.com: https://www.businesswire.com/news/home/20190930005694/en/
Matt Anderson +1-212-390-2472
matthew.anderson@blackstone.com
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