An app that helps parents monitor their teenage children’s activities is gaining popularity in Australia
Life360’s Australian share price more than doubled in the last financial year, rising 115.4 percent to $16.37.
The local division of the Californian technology company, with 66 million active users worldwide, describes itself as “Australia’s leading family safety and location sharing app”.
However, Steven Daghlian, market analyst at CommSec, said the information the app provides can be useful in many ways.
“It’s an app to track your husband’s location. I would say it’s more women who are tracking their husbands than the other way around,” he told Daily Mail Australia.
But Life360 is primarily about parents who want to monitor the activities of their teenage children.
“The problem has increased dramatically in recent times: people want to keep an eye on their families, especially if there are children,” Daghlian said.
“That’s something people still care about: their children, regardless of the pressures of the cost of living.”
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According to Mr. Daghlian, the free service is performing much better than the subscription service, with the number of users worldwide increasing by 30 percent in a year.
“More than half of that is in the United States. The fact that it’s growing in that large market is also important,” he said.
“The intention is to increase advertising revenue for users of the free app, rather than those of the paid app.”
Life360 floated on the Australian Securities Exchange in May 2019 at a price of $5.27 per share.
In 2023-2024, it was one of two ASX-listed companies to see its share price double, along with medical imaging company Pro Medicus.
Life360 has proven so popular that its Australian share price more than doubled in the last financial year, up 115.4 percent to $16.37.