Life360, which provides a location sharing mobile app targeted to families, raised $155 million by offering 5.8 million shares (36% secondary) at $27, below the as-converted last close of its shares on the Australian Securities Exchange ($29.28).
The company's core offering is the Life360 mobile app, which includes features like communications, driving safety, digital safety, and location sharing, and operates under a "freemium" model. Its suite of product and service offerings are system and platform-agnostic. As of March 31, 2024, there were approximately 66.4 million MAUs and 1.9 million global paying groups, or "circles," on the Life360 Platform.
Life360 plans to list on the Nasdaq under the symbol LIF. Goldman Sachs, Evercore ISI, UBS Investment Bank, and Stifel acted as joint bookrunners on the deal.
