Life360's wild ride on the ASX and 'absolutely giant' ambitions to reach America
From Black Mirror app claims to a market darling run and viral TikTok backlash, Life360's time on the ASX has been eventful. The next step in its journey could be the Nasdaq.
Look up the most popular social media apps on your phone’s app store. In among apps by Google and Meta you’ll find Life360, a family tracking platform used by 58 million people worldwide.
Discord and Telegram, two other apps on the top 10 list, are worth nearly USD20 billion — and Meta about 30 times that. Meanwhile Life360, listed on the ASX despite being based in San Francisco, has a market cap of $1.5 billion. To the company’s top brass, that illustrates the point that Life360 is undervalued.
“We have felt a little bit under-recognized in terms of our share price,” Life360 founder and CEO Chris Hulls told Capital Brief. “No sour grapes about it.”
Since listing on the ASX in 2019 at $4.79, the stock is up about 40%, closing at $7.45 last week and outpacing the 20% return for the broader market over the same period.
