Life360 Continues Momentum with 2 Million Global Subscriber Circles

Rhea-AI Summary

Life360 announced a significant milestone of reaching over 2 million global paying subscriber circles.

This follows their recent IPO on Nasdaq (LIF). The company emphasizes its value to families and continued growth beyond traditional family circles.

As of March 31, 2024, 45% of paying circles consist of mixed iOS and Android users, and 50% include four or more members. Recent expansions to the UK, Australia, and New Zealand have driven a 40% YoY increase in international paying circles despite price hikes.

Life360 offers multiple safety and convenience features for families, including driving safety, stolen phone protection, and emergency assistance.

Positive

• Reaching over 2 million paying subscriber circles, indicating strong market acceptance and growth.
• 45% of paying circles are cross-platform, showing the app’s versatility and widespread appeal.
• 50% of paying circles have four or more members, demonstrating high engagement levels.
• 40% YoY growth in international paying circles, highlighting successful global expansion.
• Recent IPO on Nasdaq (LIF), enhancing visibility and potentially increasing investor interest.

Negative

• Increased pricing may discourage some potential new subscribers or current users from renewing.
• The company’s growth is partially dependent on price increases, which might not be sustainable long-term.

News Market Reaction

+0.33%

1 alert

+0.33% News Effect

On the day this news was published, LIF gained 0.33%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

A New Milestone for the Company, Proving Exceptional Value for its Members

SAN FRANCISCO, June 17, 2024 /PRNewswire/ --  Life360, a family connection and safety company, announced a milestone, reaching over 2 million Life360 global app paying subscriber circles. This achievement follows closely on the heels of the company's U.S. initial public offering (Nasdaq: LIF).

"Reaching 2 million paying circles is a testament to the value Life360 delivers to families globally," said Chris Hulls, CEO of Life360. "Life360 is woven into the fabric of everyday family lives, simplifying how they communicate, keep connected, and stay safe. Our core subscribers are parents with kids of mobile phone and driving ages, and our platform helps families with everyday coordination and provides them with peace of mind. At the same time, we continue to see growth in circles beyond the traditional family. Achieving new heights with our paid memberships reflects strong global engagement and growth across segments."

Core to Life360's growth is the unique ability to serve families that have both iOS and Android devices. As of March 31, 2024, these cross-platform circles now represent 45% of our total paying circles and 50% of our paying circles that have four or more members. Also, following the successful launch of its full suite of triple-tier membership features in the UK, Life360 expanded its offerings to Australia and New Zealand in Q2 of this year. Even with the impact of increased pricing from the triple-tier membership launch and legacy subscriber price increases, growth in international Paying Circles is over 40% YoY as of June 7, 2024.

Life360 paid membership benefits include unlimited Place Alerts, a comprehensive package of driving safety features like crash detection with emergency dispatch, safe driver reports, and roadside assistance. Members may also receive stolen phone protection with financial reimbursement, access to emergency assistance professionals for medical emergencies, natural disasters, or travel issues, and digital safety features like Data Breach Alerts and Identity Theft Protection. With features designed to simplify and enhance family communication and safety, Life360 continues delivering exceptional value, proving to be an essential part of everyday family life.

About Life360
Life360, a family connection and safety company, keeps people close to the ones they love. The category-leading mobile app and Tile tracking devices empower members to stay connected to the people, pets, and things they care about most, with a range of services including location sharing, safe driver reports, and crash detection with emergency dispatch. As a remote-first company based in the San Francisco Bay Area, Life360 serves approximately 66 million monthly active users (MAU), as of March 31, 2024, across more than 150 countries. Life360 delivers peace of mind and enhances everyday family life in all the moments that matter, big and small. For more information, please visit life360.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/life360-continues-momentum-with-2-million-global-subscriber-circles-302173936.html

SOURCE Life360

FAQ

What is Life360’s recent milestone achievement?

Life360 has surpassed 2 million global paying subscriber circles.

What impact has the recent IPO had on Life360?

The IPO on Nasdaq (LIF) has increased the company's visibility and potentially boosted investor interest.

How has Life360's subscriber base grown internationally?

International paying circles have grown over 40% YoY, driven by expansions in the UK, Australia, and New Zealand.

What are some key features of Life360’s paid memberships?

Key features include unlimited Place Alerts, driving safety, stolen phone protection, and emergency assistance.

What percentage of Life360’s paying circles are cross-platform?

As of March 31, 2024, 45% of the paying circles consist of both iOS and Android users.