General Atlantic Buys Stake Valuing Liftoff at $4.3 Billion

General Atlantic is buying a minority stake in Blackstone Inc.-backed Liftoff in a deal that values the mobile app marketing platform at $4.3 billion.

Blackstone will remain as the majority shareholder of the Redwood City, California-based company, according to a joint statement Monday confirming an earlier Bloomberg News report. The transaction is expected to close mid-2025, the companies said.

Founded in 2012, Liftoff helps companies acquire and retain app users, working with brands including Amazon, PayPal and Delivery Hero, according to its website. Blackstone agreed to buy a majority stake in the company in 2020, according to a statement ...