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Investing.com -- General Atlantic, a growth equity firm, is reportedly close to finalizing a deal to acquire a minority stake in Liftoff, a mobile app marketing platform supported by Blackstone (NYSE:BX) Inc. According to Bloomberg, citing sources who wished to remain anonymous, this deal could potentially value Liftoff at over $4 billion.
The sources also indicated that the announcement of the deal could come as early as Monday. However, they cautioned that the final decision has not yet been made and the timing could shift or the negotiations could fail to result in a deal.
Liftoff, based in Redwood (NYSE:RWT), California, was established in 2012. The company assists other businesses in acquiring and retaining app users. It has worked with well-known brands such as Amazon (NASDAQ:AMZN), PayPal (NASDAQ:PYPL), and Delivery Hero, as stated on its website. In 2020, Blackstone Inc. agreed to purchase a majority stake in Liftoff.
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