Business
Life360 Unlocks New Opportunities with Strategic Partners
Members continue to benefit from enhanced user experience in mobile applicationsNew agreements expand potential for advertising and data monetization SAN
About this update from Life360, Inc.
[{"type":"text","content":"Members continue to benefit from enhanced user experience in mobile applicationsNew agreements expand potential for advertising and data monetization\nSAN FRANCISCO, Aug. 8, 2024 /PRNewswire/ -- San Francisco area-based Life360, Inc. (Life360 or the Company) (NASDAQ: LIF) (ASX: 360) announced today that it has updated its agreements with partners Arity and Placer.ai (Placer). These partnerships support Life360's pursuit of delivering increasing value to its members through Life360 mobile applications on iOS and Android devices, and also creating and developing new revenue streams. \n\n \n \n \n \n \n \n\n \n\"We are excited to expand our working relationships with two key partners who enable us to enhance our offering for consumers and to pursue opportunities that create new revenue streams,\" said Life360 Co-founder and Chief Executive Officer Chris Hulls. \"Life360 has worked with Arity to help keep families safe since 2018, and we have worked with Placer since 2022 on improving public safety. These partnerships allow us to invest in premium features and essential services for our members, including crash detection and place alerts, and to contribute to greater road safety.\"\nThe updated partnership with Arity expands our working relationship and sets up potential for future advertising pathways. The updated agreement with Placer includes an extended term and continues our aggregated data sales arrangement, with opportunities for increased revenue over time.\nLife360 generates indirect revenues from aggregated data sales and through ads within its platform that complement the user experience. The anticipated financial impact for the Arity partnership update was previously included in the Company's outlook for 2024 and demonstrates traction with the new advertising initiatives. The projected financial impact with the updated Placer relationship is incremental to the previous outlook for 2024 with newly expected revenue. Further, the expanded partnerships are projected to contribute incremental revenue in 2025 above what was previously anticipated with the agreements.\nThe potential impacts of the agreement extensions on Life360's future financial results will be discussed on the Company's earnings conference call with management today, Thursday, August 8, 2024, at 3:00pm PDT. /Friday, August 9, 2024 at 8.00am AEST.\nAuthorisat...