Life360 – IPO on the Australian Stock Exchange
Life360 is a software company that provides communications, driving safety, and location sharing information for busy families. The company raised $111 million in its IPO. It plans to use the funds to expand its business and add more features. In the meantime, its stock is up 5%. What’s the outlook for Life360?
Life360 is a software development company
Life360 is a technology company based in Australia that develops mobile applications for family members. Founded in 2007, the company is now publicly traded on the ASX. The Australian stock exchange is a relatively clean market, which made it a great place for 360 to list its shares for investors to see.
It provides communications, driving safety, and location sharing information
Life360 is a company that provides location data to help people stay safe. Their products help people track their cars, locate their friends and family, and drive safely. They also help people get lost items. However, the company has been criticized for not keeping users’ personal information confidential.
It operates a platform for today’s busy families
Life360 operates a platform that brings families closer together through smart features. Its family-friendly app provides communications, driving safety, and location sharing, and the company has more than 25 million monthly active users in 160 countries.
It raised $111 million in its IPO
Life360, a company focusing on insurance and security, has raised $111 million in its initial public offering on the Australian stock exchange (ASX). The company’s IPO comprises a broker firm and institutional offering. The company’s co-founders will retain their current holdings and hold approximately 9.7% of the total shares.
It is the largest technology IPO in Australia since Bravura Solutions Ltd raised $111 million in 2016
Life360 has raised $375 million in the Australian capital market, making it the largest technology IPO in Australia since Brava Solutions raised $111 million in 2016. The ASX has also been attracting tech companies from the US. Among them is Credible, an online student loan marketplace, which has raised $307 million.
It is the most successful US tech company on the ASX
In the last six months, 360 has expanded its revenue, users, app features and acquisitions. Today, it has a market cap of $2.1 billion and 33.8 million monthly active users, including 1.1 million paying customers. The company recently announced that it has acquired Tile for US$205 million. It has also declared its strategic review closed and completed its capital raising. Its shares have increased 252% over the past year.
