Blackstone announced that private equity funds managed by Blackstone (“Blackstone”) have agreed to acquire 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.
Sachin Bavishi, Principal at Blackstone, said, “As a best-in-class performance marketing platform, Vungle represents a key growth engine for the mobile app ecosystem. Our investment will help deliver on the company’s tremendous growth potential and we look forward to partnering with management to extend Vungle’s strength across mobile gaming and other performance brands.”
Martin Brand, Senior Managing Director at Blackstone, added, “Blackstone is excited to invest in a leader focused on the intersection of the rapidly expanding mobile gaming and mobile advertising spaces. We look forward to contributing Blackstone’s resources to accelerate Vungle’s growth trajectory in the years ahead.”
Rick Tallman, CEO of Vungle, said: “We are extremely excited about our new partnership with Blackstone. Blackstone’s acquisition will further accelerate Vungle’s mission to be the trusted guide for growth and engagement, transforming how users discover and experience mobile apps. We would like to thank Crosslink Capital and Thomvest Ventures for their support in building Vungle into a market leader. As we look ahead at the significant opportunity in the in-app mobile advertising market, with Blackstone’s support, we will aggressively expand our global platform through organic and inorganic growth.”
In connection with the transaction, Vungle has also reached a settlement agreement with founder Zain Jaffer and is pleased to have this matter resolved. Terms of the agreement were not disclosed.