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Blackstone Bets Around $400 Million on Digital Marketer Liftoff
Liftoff Mobile uses machine learning to help app marketers improve and track performance
The co-founders of Liftoff, from left to right, Chief Technology Officer Harry Robertson, Chief Executive Mark Ellis and Chief Product Officer Phil Crosby. Photo: Liftoff Inc. By Dec. 22, 2020 12:00 pm ET Blackstone Group Inc. is betting on the continued growth of mobile advertising with a majority investment in Liftoff Mobile Inc.
The New York-based investment firm’s roughly $400 million bet on Liftoff is the largest investment the Redwood City, Calif.-based company has received to date, according to a person with knowledge of the company. The investment dwarfs the roughly $12 million that Liftoff has raised since its founding in 2012.