Life360 (LIFX) CEO Chris Hulls joins Yahoo Finance to discuss how the app is transforming beyond basic location services.
One of the best location-sharing apps on the market, Hulls tells Julie Hyman and Josh Lipton that the app is “not just about security, it’s about the feeling of connection.” In addition to location services, the company can also track driving behavior and help families deal with emergencies by providing in-app emergency assistance.
Life360 has expanded to devices, providing location services for everything from keys to pets. “Our belief is that location will be involved in everything, and this is very early days,” explains Hulls. As millennials become parents, mobile devices are increasingly playing a role in parenting, contributing to Life360’s growth.
Following the popularization of Apple’s (AAPL) Find My iPhone app, Hulls explains that Life360 offers a “richer interface” with more detailed information. The ultimate goal of Life360 is to “stay in touch with the people closest to you,” he adds, and the app isn’t just for families with teenage children.
For more expert insights and the latest market movements, click here to watch this entire episode of Market Domination Extensions.
This article was written by Melanie Riehl.
video transcript
There’s more to location sharing than just seeing what your kids are doing throughout the day and in life.
The company 360 operates a platform for families that allows its users to not only keep track of their loved ones but also keep track of their belongings and access a variety of security services.
Join us now to discuss opportunities in company life and beyond.
6360 co-founder and CEO Chris Halls.
Chris.
Thank you for being here.
Appreciate it.
So talk to me about how you integrate into devices and what demand looks like right now.
Certainly.
So we were the first location sharing app on the market and we have the insight that location can be the springboard for many different family services.
It’s not just about safety, it’s also about a sense of connection.
Where is someone?
How do they drive?
How do they feel?
So what happens if you need an ambulance in such an emergency?
What if you need help?
Because your child drank Tylenol.
We have many services that fit under our umbrella.
And we recently moved to devices.
So tame the cars, the keys, the things you really care about.
Our belief is that location is going to be in everything, and the early days when millennials become parents, they naturally gravitate towards their devices, and that’s been a driver of this huge growth that we’ve had.
And Chris, if I’m following people, I assume that other person has to be involved as well.
Yes, there is 100% participation.
There is no parent or child version of the app.
It’s all the same, completely peer-to-peer.
In the early days, one of the most important elements of our platform was not privacy, but trust.
Um And life 360 I imagine it competes on some levels, but you have a different suite of services like find my iPhone.
So I wonder how much of it is deployed on Android devices.
Do you also have a market share in IOS devices?
So, counterintuitively, we actually have a higher market share in Android heavy, and I’m sorry, I have heavy regions, and a big part of that is because Apple helped popularize location sharing because hey, they’re Apple, they’re normalizing something that felt a little bit creepy early on .
But as we grew, people realized: If I really want a richer interface, if I have a family, if I have cross-platform customers, if I want to know how someone drives.
If I wanted to have a slightly livelier and less useful interface, you get AI 360.
So we very often hear about people starting to find my and moving to I 360, but about half of our paying customers are on the platform.
And Chris, I’m wondering if you have kids as well, and if so, do you use the app to stay connected with them?
I have two daughters, six and nine.
That’s why I don’t use the app for them.
But I use flooring devices along with these.
And what’s a bit counterintuitive is that this isn’t just limited to parents with children.
We have couples, we have people caring for their aging parents.
So when you really look at what we do, it’s about the family organizer.
It’s about staying in touch with the people closest to you, and it’s not just about people with teenage children.
And as you know, there’s a story in the Wall Street Journal that talks about potentially more information about a new source of income for you.
You know, people are paying for some of these services that you’re talking about, but it looks like you’re going to have an ad-supported version as well and give a little more information about ad revenue.
What, what can you tell us about that piece?
Definitely.
So, based on dot AI data, we’re currently the 15th largest app in the country on I OS.
So we have a huge trove of real-time first-party data.
And I think sometimes when you look at data it seems like a way to collect something from your customers.
But we actually think we can make very attractive offers.
Imagine you land at a new airport and we can get you an Uber right away, or you go to a new country and we can offer you travel insurance.
These are things that leverage your data in very useful ways where we can match our customers with products and services that will really help them.
This is a very unique type of advertising and we are excited to pioneer it.
And Chris, you trade in Australia, you have an OTC listing there, but I understand you’re potentially pursuing a dual listing in the US.
What’s the potential timeline for this?
I can’t comment on this, but we have prepared an S3 brochure for everyone to look at.
Ok. That’s what we’re going to do, and I hope others do us too, Chris.
Thank you very much.
Appreciate it.
Thank you for accepting me.