Blackstone has announced the acquisition of mobile in-app marketing platform Vungle on Monday.
Vungle publishes over 60,000 mobile apps globally, including apps by dominant players such as Rovio, Zynga, Pandora, Microsoft, and Scopely.
The company serves over 4 billion video views per month across one billion unique devices. It ranks high for user retention across user retention indexes.
“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,” said Rick Tallman, CEO of Vungle.
The company has offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul, and is headquartered in San Francisco.
“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.”
Vungle will be promoting Jeremy Bond to the role of COO as part of the transaction. He continues to oversee global revenue and Vungle Creative Labs.
“Jeremy is a seasoned and trusted leader who consistently delivers results,” added 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.”