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Vungle promotes Jeremy Bondy to Chief Operating Officer
NEW YORK, Oct. 1, 2019 /PRNewswire/ -- 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 No.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 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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