Life360 Set to Join Russell 2000® and 3000® Indexes

Rhea-AI Summary

Life360, Inc. (NASDAQ: LIF) has announced its inclusion in the Russell 2000® and Russell 3000® Indexes, effective September 23, 2024. This addition is part of the quarterly Russell US Index initial public offering (IPO) updates. CEO Chris Hulls views this as a key achievement reflecting the company's growth and progress as a public entity.

The Russell indexes, widely used by investment managers and institutional investors, benchmark approximately $12 trillion in assets. Life360's inclusion in these indexes is expected to increase its exposure to investors. The company, known for its family connection and safety solutions, will remain in the U.S. Russell 3000® Index for one year, with automatic inclusion in the small-cap Russell 2000® Index and appropriate growth and value style indexes.

Positive

• Inclusion in Russell 2000® and Russell 3000® Indexes, potentially increasing investor visibility
• Recognition of company growth and progress as a public entity
• Automatic inclusion in additional growth and value style indexes

Negative

• None.

SAN FRANCISCO, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Life360, Inc. (NASDAQ: LIF), the leading family connection and safety company, today announced that it will join the Russell 2000® and the Russell 3000® Indexes as part of the quarterly Russell US Index initial public offering (IPO) additions, effective after the U.S. market opens on September 23, 2024.

“The addition of Life360 to the Russell 2000 and 3000 Indexes is a key achievement and a testament to our continued growth and progress as a public company,” said Chris Hulls, co-founder and CEO of Life360. “We are excited to join the notable companies in the Russell 2000 and 3000 portfolios and look forward to the increased exposure to investors of our vision to provide a comprehensive solution to staying connected and protecting what matters most to families.”

Membership in the U.S. Russell 3000® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. In addition to annual index reconstitutions that take place in the second quarter each year, initial public offerings (IPOs) are added to the Russell US indexes on a quarterly basis.

For more information on the Russell 2000^® and 3000^® Indexes and the Russell indexes quarterly updates for IPOs, go to https://www.lseg.com/en/ftse-russell/russell-reconstitution/ipo-additions.

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 70 million monthly active users (MAU), as of June 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. (NASDAQ: LIF) (ASX: 360)

About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.

FTSE Russell Index expertise and products are used extensively by institutional and retail investors globally. For over 40 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell Indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives. 

FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. 

For more information, visit https://www.lseg.com/en/ftse-russell.

FAQ

When will Life360 (LIF) join the Russell 2000® and 3000® Indexes?

Life360 (LIF) will join the Russell 2000® and 3000® Indexes on September 23, 2024, after the U.S. market opens.

What is the significance of Life360 joining the Russell Indexes?

Joining the Russell Indexes is a key achievement for Life360, indicating growth and progress as a public company. It also increases exposure to investors and benchmarks the company against approximately $12 trillion in assets.

How long will Life360 remain in the Russell 3000® Index?

Life360 will remain in the U.S. Russell 3000® Index for one year, as per the standard membership duration.

What other indexes will Life360 be included in as a result of joining the Russell 3000®?

As a result of joining the Russell 3000®, Life360 will automatically be included in the small-cap Russell 2000® Index, as well as appropriate growth and value style indexes.