Blackstone today announced that has completed the acquisition of Vungle, a performance marketing platform for in-app video advertisements on mobile devices.
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.”
According to Blackstone, Vungle is trusted by publishers of more than 60,000 mobile apps worldwide, serving more than 4 billion video views per month in over a billion unique devices.
Vungle is headquartered in San Francisco, with offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul.
“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 is promoting Jeremy Bondy to the newly created role of Chief Operating Officer. He will continue to oversee global revenue and Vungle Creative Labs.