Investment Thesis:
- Life360 is IPOing in the US, just filed S3. Already publicly traded in Australian markets, US IPO could open the stock up to significantly more US based funds.
- The Life360 App (main product) is a monitoring app that families use. Generally it seems like children hate it and parents love it. Top 50 in downloads on both iOS and Android (not easy to do)
- Long-term drivers (IMO) are (1) declining public safety + (2) parents not having as much time to keep tabs on their children due to work etc.
- Maybe some potential to get into adjacent markets like insurance, tracking of other assets? Probably less likely and more of a call option here.
- Valuation isn't cheap but isn't as expensive as other app based companies like DUOL but it has a sticky revenue model (subscriptions)
I don't see it talked about anywhere online so I feel like Life360 will benefit from a US listing and IPO publicity + people recognizing that it has a top 50 app. I purchased shares on the Australian market to play the US listing + first 1/2 quarter visibility so my thesis is more short-term vs long-term but I am curious on getting people's thoughts around Life360's prospects.
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