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Billionaire Robert F. Smith Invests $1.4B In Ad-Tech Firm TripleLift

The richest Black man in America is about to get richer! Robert F. Smith has now acquired majority ownership of the advertising platform, TripleLift, which will expand his investment portfolio into multiple businesses. According to Moguldom , the billionaire made a $1.4 billion investment in acquiring a majority stake in the web advertising platform. “We have developed into a leader in the advertising technology space and are excited about our next chapter,” co-founder and CEO of TripleLift Eric Berry said. “When looking for an investment partner, we placed a premium on a deep understanding of ad tech and a willingness to lean into developing our portfolio of innovative, high-growth products. Vista is that partner.” Founded in 2000, Smith’s Vista Equity Partners is a private equity company that has allowed him to carve a niche for himself, fixing up enterprise software outfits. With a focus on enterprise software data and technology-enabled businesses, Vista Equity is expected to...

Shanique Yates

Apr 7, 2021